2300 Welton + 515 Park Avenue West, Denver, CO 80205
Affordable Housing - New Construction
Construction start: May 2015
Construction Completion: October 2016
Fully Leased: December 2016
Partners: Calcon Constructors (general contractor), Humphries Poli Architects, PC (architect)
Total Project Cost: $44,061,366
Transit-oriented affordable housing project on light rail, 4 blocks from Downtown Denver
223 apartment units, all renting at or below 60% AMI
2 buildings (259,843 total square feet) on 62,835sf site area
205 underground parking stalls
Largest 4% tax credit affordable housing project in Denver since 2005
Complex financing stack including HUD 221(d)(4) loan, 4% low income housing tax credits (LIHTC), tax exempt private activity bonds issued by the City and County of Denver, City and County of Denver OED funds, State of Colorado HOME funds, and tax increment financing (TIF) through the Denver Urban Renewal Authority.
2300 Welton was the largest affordable housing project in downtown Denver since 2005 and was a catalyst for the Welton Street corridor.