Denver City Council committees will act on several affordable housing projects this week totaling about $66 million.
The Finance and Governance Committee will consider Tuesday issuing $11 million in bonds to All Saints Apartments to build a four-story, 63-unit apartment complex for seniors. The building will be restricted to people making 30% to 60% of the average median income. Thirty percent AMI is $24,650 annually for one person.
The site is near public transportation, grocery, and retail stores. The building will include 59 one-bedroom apartments and four studio units. There will be 52 parking spots for the L-shaped building.
“The project is anticipated to include high-efficiency elements including noise reducing windows, increased insulation, and Energy Star-rated appliances,” according to a memo from city staff to the council. “The building is anticipated to include a fitness room, a reading/quiet room, a game activity room, shared laundry, flexible office space, mail and package receiving lockers, and bike storage.”
Construction is expected to begin this summer.
The Safety, Housing, Education and Homelessness committee will consider Wednesday loaning Archdiocesan Housing, Inc., doing business as Catholic Charities Housing, $2.5 million. A 60-year performance loan and an 18-year cash flow loan will help fund All Saints Apartments at 2595 S. Federal Blvd.
Warren Village III
The Safety, Housing, Education and Homelessness Committee will consider granting $1.8 million to Warren Village III, located at 1390 W. Alameda and 1363 and 1373 Nevada Ave.
The complex will serve people experiencing homelessness or at risk of becoming homeless. Supportive services will be offered, and the city will require a staff-resident ratio of 1 to 15. The city also will consider chipping in $22.7 million to fund 29 rental vouchers for 20 years. Tenants of the 89-unit building will pay 30 percent of their incomes toward rent. Some residents may not have an income. They will pay nothing.
“Supportive services must be offered on a volunteer basis to tenants of supportive housing units,” according to a memo from city staff to the committee. “In addition, services are expected to be implemented in a manner reliant on current best practice models, including Housing First, harm reduction and trauma-informed care. Intensive case management services must be available to residents of supportive housing units.”
The city also will lend Warren Village $3.8 million to be repaid over 60 years for construction of the project.
The city also will consider granting $1.5 million to the Montbello Organizing Committee to build 97 units of affordable housing known as Montbello FreshLo. The money comes from the U.S. Department of Housing and Urban Development.
The 97-unit project will be located at 12300 Allbrook Drive. “The apartments will be in
the top five stories, and the ground floor will consist of community service facility space for WellPower, office space for Montbello Organizing Committee, and community-serving office space,” according to a memo from city staff to the council. “The development will serve households earning between 30% and 70% of the area median income, with 15% of the total units being three-bedroom apartments.”
The matter will be discussed at the Safety, Housing, Education and Homelessness Committee meeting.
Even if the committees approve the housing projects, the full City Council also must sign off on them.