The Denver Office of Economic Development is now accepting loan applications for the redevelopment of foreclosed multi-family properties in Denver
through the Neighborhood Stabilization Program 2 (NSP2). OED has committed $12,095,000 of its NSP2 funds to multi-family projects.
Projects must include five units or more, under single ownership, and be located in one of the following NSP2 eligible neighborhoods: Athmar Park, Barnum, Barnum West, Chaffee Park, Clayton, Cole, College View, East Colfax, Elyria/Swansea, Five Points, Globeville, Green Valley Ranch, Harvey Park, Jefferson Park, Mar Lee, Montbello, Northeast Park Hill, North Park Hill, Ruby Hill, Skyland, Sunnyside, Villa Park, West Colfax, Westwood and Whittier. Projects in additional neighborhoods may be eligible on a case-by-case basis.
OED has a number of priorities for determining funding eligibility, which include:
- Projects that will house residents at 50% of the area median income or below;
- Transit-oriented developments;
- Projects that are ready to proceed (property under contract, or acquisition negotiations underway); and
- Projects that leverage additional funding from other sources.
Additional eligibility criteria is included in the funding application.
Applications will be accepted until all funding has been obligated. For more information, contact Melissa Stirdivant at email@example.com
NSP2 Application Materials: