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Sienna Sloans Lake Opens, Bringing 49 Affordable Apartments to West Colfax Neighborhood

Financing from Denver’s General Fund helps refurbish Kuhlman Building into income-restricted rental units
Mayor Michael B. Hancock and other officials celebrated today’s grand opening of Sienna Sloans Lake, a community of 49 affordable housing units in the refurbished Kuhlman Building within the former St. Anthony’s Hospital campus. Sienna Sloans Lake is located at W. 17th Ave. and Perry St., within Block 3 of the Sloans redevelopment.

“Today, we’re seeing the results of equitable, community-focused opportunity taking shape here in the West Colfax neighborhood,” Mayor Hancock said. “This opening marks a big win for preserving this neighborhood’s history, character and sense of community, as well as creating more affordability for the hard-working residents and families who will get to call these 49 apartments home.”

Built in 1941, the Kuhlman Building originally served as a nursing residence. The interior has been completely refurbished into affordable apartments ranging from studios to 2-bedroom units. All units are exclusively for households earning up to 60 percent of the area median income (up to $37,800 for a single-person household, or up to $48,600 for a family of three).

Developed by Koelbel and Company and Trailbreak Partners, Sienna Sloans Lake offers onsite leasing/staff, a rooftop deck with mountain and skyline views, in-unit washers and dryers, and a fitness room.

The Denver Office of Economic Development (OED) provided $318,500 in gap financing to help make the project viable. City financing was allocated from the general fund in 2016, supporting soft costs associated with renovation. Other public finance partners include the Denver Urban Renewal Authority and the Colorado Housing and Finance Authority.

“Sloans provides incredible access to opportunity for residents, including a central location, nearby higher education, and mass transit connectivity to the city and region,” said Britta Fisher, OED’s Chief Housing Officer. “Our public investment at Sienna Sloans Lake ensures that residents at all levels can benefit from the thoughtful infill redevelopment that is taking shape here.”

The opening of Sienna Sloans Lake complements several other steps Denver is taking to boost affordability and other work OED is doing to ensure the success of Denver’s economy is shared by our residents, businesses, and neighborhoods.

  • A total of 1,069 affordable units that have received City financing are currently under construction at 12 sites throughout Denver, and an additional 1,019 units are anticipated to break ground over the next year
  • Denver doubled its Affordable Housing Fund to $30 million annually, which will produce a $105 million surge in upfront funding to help create, preserve or acquire land for more than 6,000 units over the next five years
  • Through recent revisions to the Preservation Ordinance, the minimum affordability period for rental projects receiving City subsidies has increased from 20 to 60 years
  • In its first year, the new Temporary Rental and Utility Assistance Program helped stabilize approximately 1,000 households
  • In response to the recent federal government shutdown, Denver launched a new mortgage assistance program to support homeowners facing a hardship due to unexpected changes in their employment status
  • Denver’s new down payment assistance program, metroDPA, helps put home ownership within reach for low- and moderate-income individuals and families
  • Denver’s 2019 budget includes a record of nearly $60 million that is available for investment into affordable housing units and programs