Colorado Real Estate Journal - August 17, 2016
Denver Mayor Michael B. Hancock and other officials celebrated the groundbreaking of The Meadows at Montbello, a new affordable senior housing development under construction at 4325 Carson St. in northeast Denver. Developed by the Volunteers of America, the development will offer 85 income restricted apartments for low- and moderate-income seniors 62 and older. The $18.8 million development is located adjacent to the VOA’s Montbello Manor, a 79-unit senior apartment property that opened in 2004. Public finance partners for The Meadows at Montbello include the Denver Office of Economic Development, Colorado Housing and Finance Authority and the Colorado Division of Housing. “Having an affordable home is important for every Denver resident, especially our seniors, who deserve the right to remain in the place where they have built their lives,” said Hancock. “Volunteers of America has done a tremendous job at supporting our vulnerable populations, and we’re proud to again work together at keeping Denver affordable for our senior residents.” The 4-story building will include one- and two-bedroom units for households earning up to 60 percent of the area median income, up to $33,660 for a single-person household. Amenities include support services for senior tenants, as well as an outdoor community garden. The OED provided $585,000 in financing from Denver’s General Fund to help support the development; the loans guarantee an affordability period of at least 40 years on all of the units. Updates… The Denver OED also recently awarded grants to two nonprofit organizations to support efforts to improve fresh food access and consumption in Globeville and Elyria-Swansea. Focus Points Family Resource Center and The GrowHaus were awarded $76,720 and $66,213, respectively, under the OED’s “Healthy Food Challenge,” which encourages innovative approaches to addressing healthy food issues in these north Denver neighborhoods. The Focus Points Family Resource Center will use grant funding to develop a new micro-food business support center for Globeville, Elyria-Swansea food businesses and entrepreneurs. The center will provide community driven programs to assist persons with starting up or expanding food based micro businesses in the surrounding areas. Training will target specific community food business needs, such as credit building, banking services, insurance, taxes, product testing and other topics. Funding to The GrowHaus supports the launch of a door-to-door promotora (community health worker) program to educate residents on healthy eating habits, cooking methods and nutrition. Designed to boost consumption of fresh foods, the grant is targeted to provide outreach classes and education to at least 300 residents. “Access to fresh and nutritious foods is a key component to building vibrant communities,” said OED Executive Director Paul Washington. “We’re excited to fund these innovative new programs in Globeville and Elyria-Swansea as part of our ongoing efforts to develop additional food retail options for local residents.”