Affordable Housing to Be Built Along Commuter Rail Line in Denver

Park Hill Station Rendering

Park Hill Station Rendering

Delwest, a progressive property development company, has announced plans for the construction of 156 affordable, for-rent apartments in the Park Hill area.

The enterprise is a result of a public-private partnership between Denver’s Regional Transportation public transit system and private development. The development, located at 4055 N. Albion Street, is scheduled for completion concurrently with the new commuter rail stop at 40th Avenue and Colorado Boulevard in early 2016.

The homes in the unique project will rent for below-market cost and will be located along the east line of the RTD commuter rail, which is currently under construction. The concept of building affordable housing along a commuter rail supported by a transit-oriented development fund is relatively new and will provide residents access to affordable homes and inexpensive, convenient transportation.

“This community is a labor of love, a five year dream,” said President of Delwest, Joe DelZotto. “I am very proud to bring this to market.”

The vast partnership responsible for Park Hill Station includes Delwest, Denver Housing Authority (DHA) and Wells Fargo. The Urban Land Conservancy, the City and County of Denver and Enterprise Community Partners have provided funding for this quintessential relationship between public and private sectors. The project is also supported by cooperation from State Division of Housing, Housing and Urban Development, Colorado Housing and Finance Authority, Mile High Community Loan Fund, Community Capital Corporation, Daniel G. Morgan & Associates, Inc., Citibank, the Piton Foundation and Sam Gary Investment Corporation. In addition, students from the Colorado Construction Institute will be interviewed for jobs involved with the development of the project.

The Urban Land Conservancy, the City and County of Denver and Enterprise Community Partners have provided funding for this quintessential relationship between public and private.  The development, located at 4055 N. Albion Street, is scheduled to be completed concurrently with the new commuter rail stop at 40th and Colorado early 2016.

“This newest edition to ULC’s growing TOD portfolio is an outstanding example of how Denver continues to be a leader in smart development around stations, addressing the need for affordable housing and reduced transportation costs,” states Tony Pickett, ULC VP – Master Site Development.

“We are thrilled to partner with Delwest and the whole team on this exciting new project,” said Ismael Guerrero, Executive Director of DHA. “We at DHA are committed to addressing affordable housing needs of Denver residents and we firmly believe this project very much falls in line with what is needed to achieve our mission.”

Denver Mayor Michael Hancock will conduct the groundbreaking ceremony at the site on Sept. 18, 2014, at 11 a.m.


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