By Eric Heinz
Denver’s Department of Housing Stability (HOST) and Department of Finance have selected Globeville Redevelopment Partners to build at least 170 income-restricted rental units at 4995 Washington St.
Globeville Redevelopment Partners is a new partnership that includes Chicago-based Evergreen Real Estate Group, Denver-based Rocky Mountain Communities, and the GES Coalition, which was chosen after the city advertised the project in March.
An open house was hosted Oct. 4 at the POWER Community Center at 50th and Washington St., where dozens of people came to hear from the partnership members.
“We are grateful to the City and County of Denver and HOST for their confidence and trust in our ability to bring a catalytic mixed-use affordable housing project to 4995 Washington St.,” said Javonni Butler, a project manager with Evergreen. “We view the opportunity to develop 4995 Washington as a privilege and we are excited to begin a collaborative community engagement process as we solidify the project design and program.”
Globeville Redevelopment Partners has agreed with Denver to build and reserve apartments as income-restricted for people and families making 30% to 80% of the area median income. At least half of the apartments will be three- and four-bedroom units, according to a press release from the city.
Denver bought the 2.7-acre site in 2019 for about $6 million to build a mixed-use development of affordable housing as well as community space in the area.
“Affordable housing is critical throughout Denver, including in Globeville, where we set out an intentional strategy to acquire land, recruit partners, and develop family-sized units with permanent affordability in mind,” HOST Executive Director Britta Fisher said. “We’re fortunate to have forged community partnerships to make this vision possible.”
Denver will retain ownership of the land, and the developer will enter into a 99-year land lease for the property, which is pending City Council approval. The land lease arrangement ensures permanent affordability of the income-restricted units.
The ground floor could become a new library for Globeville, but Denver Public Library has yet to determine if 4995 Washington will be the location for the neighborhood’s forthcoming branch.
“The GES Coalition came onto this development team because of the commitment to community stewardship, the deep affordability of units, and community benefiting retail,” GES Coalition Co-Director Nola Miguel said. “We are excited to partner with community members in Globeville and the development team to ensure this project prevents displacement in GES and provides the needed services in our community.”
Miguel said Tierra Colectiva, the GES community land trust, will continue to be involved with the property during development and years after “to ensure its connection and accountability to the Globeville community.”