By Kathryn White
A 49-unit, affordable condominium development a block from RiNo ArtPark is on track to be finished this month, with a handful of new homeowners moving in as early as mid-March. Forty-four units are still available, with some prospective homebuyers in the pipeline.
The Burrell at 3575 Chestnut Pl. includes one-, two- and three-bedroom condos listed from $205,000 to $328,000.
Named after legendary jazz musician Charles Burrell, the condominiums are the latest affordable homeownership collaboration between Elevation Community Land Trust (ECLT) and Shanahan Development.
Tiana Patterson, vice president of social impact and wealth equity for ECLT, described the significance of naming when it came to a project ECLT and Shanahan wrapped up in 2021, a 92-unit affordable condo development in the Santa Fe Arts District.
“We’re always wanting to honor the neighborhood that we’re in,” Patterson said. “La Tela, which means the fabric, was meant to pay homage to the historically Latino and art-centric neighborhood that Santa Fe is.”
La Tela sought to provide affordable home ownership to educators in Denver who have been priced out over the last decade as salaries did not keep pace with home prices.
Jeff Shanahan of Shanahan Development came to the construction of affordable housing through La Tela. Shanahan grew up in Flint, Michigan, where his mom was an educator for 35 years. His brother is now an assistant principal in Denver, who often hears from candidates for positions he posts that they cannot afford to live here.
“Building equity and having pride in ownership in the city you work in,” Shanahan said, explaining what draws him to projects like La Tela and The Burrell.
“They do a lot of affordable rental projects, because of LIHTCs [tax credits],” Shanahan said. “But the people who live there, they’re not building equity. They’re just paying rent. They’re just paying down the owner’s mortgage. The owner of the apartments is making a ton of money on appreciation and debt reduction, but the people living there aren’t making any money, saving any money.”
Patterson described the historically Black neighborhood where The Burrell is going up. With live music venues like The Mission Ballroom and Globe Hall less than a mile away, paying tribute to the legendary jazz bassist was the perfect fit.
Charles Burrell was inducted into the Colorado Music Hall of Fame in 2017, where they referred to him as the “Jackie Robinson of Classical Music” for becoming the first African-American to sign a full-time contract with a major American symphony. Burrell joined the Denver Symphony Orchestra (now the Colorado Symphony) in 1949.
Burrell still lives in Denver and continues to be celebrated. Dazzle marked Burrell’s 103rd birthday in October with a tribute concert, and the legendary artist now has an Aurora performing arts K-12 school named after him.
When sheets of plastic come down from the face of The Burrell in the days before new owners move in, a large-scale tribute to Burrell himself will be revealed, depicting the artist playing standup bass surrounded by musical notes hinting at one of his favorite songs, “Tea for Two.”
Three commercial spaces take up The Burrell’s first floor. One has been purchased by the artist Thomas Evans, a.k.a. Detour, another by a group of artists connected to RedLine, a Denver nonprofit arts organization.
To ensure affordability of homes at The Burrell, income and asset restrictions apply.
ECLT’s homeownership program targets households with an annual income at or below 80% of the area median income, as determined annually by Housing and Urban Development (HUD).
Patterson said, given increases in mortgage interest rates as the building was under construction, her organization is also offering an interest rate buy-down option.
She hopes prospective homeowners will become familiar with other down payment assistance programs such as those offered by CHAC and metroDPA.
Patterson also hopes people with historical and family ties to the neighborhood will include those connections on a form ECLT uses to get to know prospective homebuyers.
For more information about qualifications and the application process, or to look at available units, visit www.theburrelldenver.com and www.elevationclt.org/buy-a-home/.
Helping people have a quality place to call their own makes us proud of Jeff, our son. We hope there will be many more of these projects.