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City Seeks Development Partners to Build Affordable Housing along East Colfax

Development proposals sought for two sites

Utilizing local and federal funds, last year the Denver Office of Economic Development (OED) purchased three underutilized parcels along East Colfax Ave., with a vision for the development of new affordable housing and other uses benefitting the community. OED is now seeking to identify developers to deliver projects that meet the housing and community needs at these sites, located at 8315 E. Colfax Ave., 1500 Valentia St. (adjacent to the 8315 E. Colfax parcel), and 7900 E. Colfax Ave.

OED has issued two separate Requests for Proposals (RFP) to solicit proposal ideas for the three parcels.

In the solicitation for the adjacent 8315 E. Colfax and 1500 Valentia properties, OED is seeking to identify a qualified development partner(s) to purchase the property and construct a successful mixed-use development that includes affordable rental housing and commercial uses. At a minimum, 50 percent of the available housing on the property must be affordable to households earning up to 80 percent of the area median income (which is currently $50,350 for a single-person, or $64,750 for a household of three).

The 7900 E. Colfax Ave. RFP seeks to identify a qualified development partner(s) to purchase the property and construct a successful permanent supportive housing project that serves residents who previously experienced homelessness. Preference will be given to proposals that also deliver community-serving commercial uses.

The three parcels are currently undergoing a rezoning process, to rezone the properties from E-MS-3 to E-MS-5 (which, if passed, would enable greater density at up to five stories). A City Council hearing to evaluate these rezonings is expected in November.