2460 Welton St.: This Five Points redevelopment of vacant land into apartments, townhomes and ground floor commercial space has 100 percent affordable-housing units.
Denver’s population continues to rise, as does the cost of living across the metro area. It’s a complex issue that government and private industry must work together to address — which is where the Denver Urban Renewal Authority (DURA) comes in. DURA serves as an intermediary between city government agencies, developers and the community to help foster responsible growth and thoughtful redevelopment across the Denver metro area – ensuring that affordable housing is a priority for the Mile High City as it continues to welcome new residents and businesses.
As part of DURA’s mission to create safe, prosperous and healthy neighborhoods, the 60-year-old organization is actively working to create more affordable housing options and keep pace with community needs — while also preserving Denver’s historic housing stock and architectural character. In the last five years, DURA has participated in 27 redevelopment projects that have added more than 500 affordable housing or income-restricted units across Denver.
When DURA is involved in a redevelopment project that uses public funds from Tax Increment Financing (TIF), which is common for DURA projects, those funds must be used for a public purpose – such as the provision of affordable housing, historic preservation, or the improvement of streets, utilities, landscaping and parking.
Here are just a few of DURA’s recently completed and ongoing projects that include affordable housing:
2300 Welton St., Five Points
2560 Welton, Five Points
At 2560 Welton St., a vacant lot is currently being transformed into office space, ground floor commercial and 22 income-restricted apartments.
University of Colorado Health Sciences Center
This ongoing project, formerly the University of Colorado Health Sciences Center campus, is being transformed into a mixed-use development that will integrate with the surrounding neighborhood. Included are housing, retail, restaurant, hotel, office space, parking, four acres of open space and pedestrian amenities. The project includes 112 affordable housing units and incorporates Denver’s history by reusing existing structures whenever possible.
St. Anthony Block 3, Sloan’s Lake
This rehabilitation of the 44,000 square-foot historic Kuhlman Building and construction of new retail, restaurant and residential space will include 49 affordable housing units.
St. Anthony Block 9, Sloan’s Lake
Scheduled to open in summer 2019, these improvements will include 176 affordable senior rental units with an activity center, rooftop garden and a 20,000 square-foot community health clinic and dialysis center.
One of DURA’s most ambitious projects, this ongoing project has developed the former Stapleton Airport into residential, retail, office, industrial and warehouse distribution space. It will provide housing for 30,000 residents of varying income levels, 13,000 jobs, and 1,100 acres of parks and open space when complete.
The Terraza del Sol project transformed a vacant lot into 42 affordable housing units and ground floor commercial space for local nonprofit Mi Casa Resource Center.
For every redevelopment project, DURA takes a hard look at the neighborhood’s need for and appropriate level of affordable housing and insists on meeting that even if it is above and beyond what is required by law. As Denver’s population continues to grow, DURA will remain keenly focused on thoughtful redevelopment and affordable housing. To learn more about the redevelopment process and how DURA is helping to address Denver’s housing crisis, visit renewdenver.org. For more information about DURA’s projects and services, contact DURA online or call 303-534-3872.