FOR IMMEDIATE RELEASE:
Monday, October 10, 2003CONTACT:
Lindy Eichenbaum Lent
Stella L. Madrid
Mayor Hickenlooper Breaks Ground for Workforce Housing Development in Globeville
(DENVER) - Mayor John Hickenlooper and City Councilwoman Judy Montero joined the Globeville community in breaking ground on Monday for one of the Denver’s new workforce housing developments. The 91 new affordable townhomes will be made possible through joint efforts between the Denver Housing Authority, the historic Globeville neighborhood, and the private sector.
“These future 91 townhouse units of workforce housing, coupled with City’s economic development programs like the Washington Street corridor initiative, will provide vitality for this historic Denver neighborhood,” Hickenlooper said. “Additionally, the job opportunities created by the construction of these homes, street improvements and a new leasing center will also contribute to the local economy.”
Globeville Civic Association President John Zapien, Denver Housing Authority (DHA) Chair Marge Johnson, and DHA Executive Director Salvadore Carpio joined Mayor Hickenlooper and Councilwoman Montero in putting the first shovel in the ground at the 8-acre site bounded on the north by 52nd Avenue, the east by Logan Street, the south by 51st and the west by Sherman Street.
Building on the tradition of Denver’s great neighborhoods, the redevelopment of this former Stapleton Homes public housing site will introduce open space, walkable, tree-lined streets and an architectural style that takes its cue from the neighborhood’s and Denver’s historic residential design elements.
The development will offer 23 affordable homeownership units and 68 rental units, to be constructed in the phased approach over the coming year. The project will begin pre-leasing the homeownership units in 2004. The rental units, for individuals or families making between $25,000 and $35,000 a year, range from $585 to $850 per month. The for-sale units, for individuals or families making between $42,125 and $50,000 a year, will be priced from $165,000 to $195,000.
Construction of the entire project will be completed in the summer of 2005. The project is estimated to cost $6.8 million to develop and will be valued at $15.5 million upon completion.
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