Jan 21, 2020
Denver - A former Northeast Park Hill hotel property has been converted into 139 much-needed affordable studio apartments, targeted to house individuals transitioning out of homelessness. City officials today celebrated the opening of the Fusion Lofts at 3737 N. Quebec St.
Developed by the Renaissance Housing Development Corp., a subsidiary of the Colorado Coalition for the Homeless, the Fusion Studios is anticipated to house its first residents by late January. Each studio unit is fully furnished with a bed, dresser, desk and chair, television, window coverings, bedding, microwave and mini-refrigerator. A full-service food pantry is also available for residents.
“This development approach of converting a hotel property brings much-needed affordable units to our community in the fastest manner possible,” said Britta Fisher, Executive Director of Denver’s Department of Housing Stability (HOST). “We’re excited to continue to innovate with partners like the Colorado Coalition for the Homeless, to deliver new models like this one at Fusion Studios.”
The Fusion Studios is the first affordable housing project made possible with land acquisition resources from a bonding partnership between the City and County of Denver and the Denver Housing Authority (DHA). The “DHA Delivers for Denver” Program (D3) has utilized property tax mill levy revenue to create a surge of $129 million in bond funding to accelerate the development and preservation of nearly 2,500 affordable housing units over the next five years.
“Fusion Studios represents the best of what DHA’s bond program is intended to deliver: expanded and accelerated affordable housing options for Denver’s most vulnerable populations through dedicated partners like the Coalition,” said Ismael Guerrero, DHA Executive Director.
HOST plans to provide additional funding, pending City Council approval, to help provide supportive services for future residents of the Fusion Studios. Additionally, an existing bridge housing contract between HOST and the Coalition will fund designation of 25 of the Fusion units as bridge housing for individuals needing stability prior to connecting to permanent housing.
Other public funding for this project includes the Colorado Department of Local Affairs, Division of Housing, and the Colorado Department of Human Services.
“We couldn’t be more pleased with the commitment of our partners who quickly came together to fund the acquisition and minor renovations to create these 139 new apartments,” said John Parvensky, President/CEO of the Colorado Coalition for the Homeless. “The ability to bring these critically needed apartments on line in a record six-month timeframe demonstrates that when organizations work together, they can accomplish big things quickly to address the serious housing and service needs to help end homelessness.”
The Fusion Studios is the latest city-supported affordable housing development to open in Denver. A total of 921 affordable units receiving city financing are currently under construction at 14 sites across Denver. An additional 1,383 income-restricted units are in the planning stage.
The City and County of Denver has a long history of supporting affordable housing units developed by the Colorado Coalition for the Homeless. Over the past 24 years, approximately 1,100 units developed by the Coalition have received city financing.