Date posted: December 31, 2016
“…And in the Mariposa District, DHA received federal funding in 2010 to demolish the 250-unit South Lincoln Park Homes development and replace it with up to 300 for-sale homes and 517 mixed-income rental units. DHA also owns and manages all of the rental units there and makes 406 affordable. DHA is selling two properties here that will become mixed-income townhouses, many of them market-rate….Usually what we’ll see is we come in, do our large-scale redevelopment, rebuild infrastructure, create opportunities for private development and stabilize the neighborhoods. That’s when we’ll attract those for-sale opportunities or those private developers that are interested in investing in our neighborhoods as well,” Tobin said.
Denver-based Koelbel and Co. is looking to buy within the Mariposa community. The developer is under contract to buy parcels at West 9th Avenue and Navajo Street and West 11th Avenue and Mariposa Street. Between the two, there are expected to be 58 new townhomes, said Peter Benson, senior vice president at Koelbel.
“Denver Housing Authority put a lot of money in improvements in the area, and we think it’s an up-and-coming area,” Benson said.
The Mariposa District in west Denver links the 10th and Osage light rail station with the Santa Fe Arts District.
Redevelopment of the area was intended to reduce concentrated poverty by creating a mixed-income community and create a denser, more walkable neighborhood oriented toward the light rail station.
DHA was looking for someone to build for-sale homes as a final phase of the redevelopment project in the community. Six of the 58 units will be sold to those who earn 80 to 120 percent of the area median income. The remainder will likely be sold in the $400,000 price range, Benson said….” READ ARTICLE
A Mexican restaurant with an art gallery upstairs in the Santa Fe Arts District.burnaway/Flickr
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