The Westwood URA and associated Tax Increment Area were created in 1990. The Westwood Neighborhood Urban Renewal Plan set forth goals for the URA but no specific project was identified at the time the Plan was created. The Denver Urban Renewal Authority has participated in 42 projects within the URA consisting of numerous façade grant projects and several smaller redevelopment projects.
The first Denver project for Gorman & Co., Terraza del Sol brings a 42-unit affordable apartment building to the Westwood Urban Redevelopment Area — one of the lowest income neighborhoods in Denver. The three-story project sits on 1.3 acres, previously home to the Anderson Motel. The site had been identified in the Neighborhood Plan, as well as a recent feasibility study commissioned by the Authority, as an opportunity site for development.
The building will provide housing for those earning 30 percent to 60 percent of the area median income (AMI). The 71,000-square foot building will be energy-efficient and embrace healthy living with a fitness room, interior bike storage, a large outdoor terrace along with a community lounge.
The first floor of the building will be occupied by the headquarters and Family Economic and Education Center for the non-profit Mi Casa Resource Center. The 20,000 square foot office space will help the group fulfill their mission to advance the economic success of Latino families by providing resources such as financial coaching, tax preparation, GED test preparation, computer literacy and more.
The project is financed by Colorado Housing and Finance Authority, State of Colorado Department of Local Affairs, Denver Office of Economic Development, Denver Urban Renewal Authority, Citibank and Enterprise Community Partners, Inc. The building was designed by Shopworks Architecture.