Denver Celebrates Grand Opening of 132 New Income-Restricted Condos
Published on July 14, 2021
Central Park Urban Living Condos provides home ownership opportunities for households earning up to 80% of the area median income
Home ownership is a reality for 132 hard-working individuals and families thanks to the opening today of a new income-restricted condominium development in Denver’s Central Park neighborhood. Denver’s Department of Housing Stability (HOST) participated in a ribbon cutting today to celebrate the new Central Park Urban Living Condos, located at 36th Ave. and Central Park Blvd.
The project was developed by Northeast Denver Housing Center, with Brookfield Properties donating the land. Located adjacent to RTD’s Central Park Station, the project offers one- and two-bedroom homes ranging from $139,500 to $169,500. All units are under contract to households earning 60% to 80% of the area median income (up to $55,950 for a single-person household, or up to $71,950 for a household of three).
“This project is so needed,” said HOST Executive Director Britta Fisher. “We’re honored to celebrate the opening of one of Denver’s largest developments of income-restricted homeownership units. This will make a meaningful difference for 132 individuals and families, providing housing stability and an asset from which to build and grow their lives.”
The project includes 51 one-bedroom homes and 81 two-bedroom homes. Each unit contains 9-foot ceilings and large windows allowing natural light to reach all parts of the units, enhancing daylighting and views while decreasing energy cost and usage.
“Affordability of homes, and how close we live to transportation, jobs, good schools, grocery, open space and overall amenities of healthy living contribute to our wellbeing,” said Gete Mekonnen, Northeast Denver Housing Center executive director. “Central Park Urban Living is a great example of such achievement. NDHC and its supporting partners have set another benchmark.”
The City and County of Denver provided $2,640,000 in financing from the Affordable Housing Fund toward the $35.9 million project. The project also received other public finance funds from the Colorado Department of Local Affairs.
The Central Park Urban Living Condos is the latest city-supported affordable housing development to open in Denver. A total of 1,152 affordable units that have received city financing are currently under construction at 24 sites throughout Denver. An additional 855 income-restricted units are in the planning stage.