DENVER — The City of Denver has invested millions of dollars into affordable housing. Now, a new project will give people a fresh start in a neighborhood they might traditionally be priced out of — the Golden Triangle neighborhood.
“Golden Triangle has a reputation of luxury units, both apartments and condominiums,” said District 10 Councilman Chris Hinds.
Denver consists of 78 neighborhoods, and Golden Triangle is one of four in the city that are considered high-cost.
“This is an incredibly pedestrian-friendly area of our city. We're close to the city center, 16th Street Mall, that is where the largest concentration of businesses are. We also have easy access to the Cherry Creek bike path,” Hinds said.
A 7-story multifamily building planned on Delaware Street and 11th Avenue will look like luxury, but its purpose is quite the opposite. It will have 132 total units of affordable housing — 80 units for families transitioning out of homelessness and 52 units for residents earning up to 60% of the area median income.
“It's a deeply affordable project. The Denver Housing Authority has a program called D3, which invests public resources to acquire land and then work with developers on actually constructing affordable projects,” said Dan Collison with the developer Sherman Associates.
Denver Housing Authority purchased the land for $5.85 million. Sherman Associates will design and build the project, which is estimated to cost $58 million. Sherman will also operate it in partnership with local nonprofit Family Tree.
“(Family Tree) will have offices, counseling, on-site engagement and the engagement that's needed to help these individuals and families thrive in new and permanent long-term housing solutions,” Collison said.
There are other affordable housing options in the Golden Triangle, but this project is the first built with that original intention. Architects will use trauma-informed design to help residents feel physically and emotionally safe.
“The idea is not just to put people from the street into temporary housing. The idea is for people to have a way to move throughout the spectrum to be the best person they can be,” Hinds said.
Construction will begin in 2025 and be completed in the fall of 2026. The land purchased by Denver Housing Authority is part of a program to create 1,300 units of housing in Denver.
