A new Highland project was recently submitted to the Denver planning office for development review: Skyline Apartments. The project will include 88 units in a 4-story building located on the east side of Zuni between W. 28th and 29th Avenues, just north of the new Hampton Inn Highland. There was a proposal for a townhome project at this same site a few years ago, but it never got going and I never added it to the Highland page. I’m still looking for a rendering of this project.
New Highland Project: Skyline Apartments
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This is irrelevant but can anyone explain the history of this fountain?
http://www.denverpost.com/breakingnews/ci_10240446
An 88-unit development is a huge improvement from a row of townhomes! And 4 stories is pretty high for that neighborhood. This is good news!
How many units does a project have to be before a portion must be designated for low-income housing? And when it happens, what proportion must be low-income? I'm wondering if 88 units is enough to kick in the ordinance, and if the amount build is going to be as much as what will probably be torn down to make way for the project.
It's been something on my mind a lot lately since I started spending a lot of time working in Five Points. People I talk to there say they feel like the are slowly being kicked out of the neighborhood by gentrification, which is something I never thought of – when I think of gentrification, I think the people in that neighborhood get richer too, which is evidently not the case, and they end up having to leave when rent or property taxes get high or when their building is condemned. I say infill is overwhelmingly good for environmental reasons – a unit in an urban residence is one unit that will NOT be built in the sprawling suburbs, claiming new open space and putting residence out of access to public transport – but the class aspect, which I hadn't thought of much before, adds a little complexity to the situation.
pizzuti,
the city's affordable housing ordinance applies only to for-sale, not rental. So assuming this project is rental, they can set their rates at whatever they want. If it is for-sale, then the city's basic requirement is 10% affordable. It's more complex than that but that's the gist of it.
Ken, don't they get tax credits if they assign a certain amount of rental units to being affordable? Seems like a lot of rentals have affordable blocks, like Rio Grande and Mercantile.
Pizzuti, a lot of people in lower income neighborhoods rent, since they can't typically afford to buy. So when an area is gentrified, the owners of the rental units sell out and make tons of cash, but the renters are all evicted and have to move out.
It's mighty quiet round here now that registration is required.
Just Sayin'
jelly, I also have been a bit short on the posts lately… combination of busy at work and Olympic fever at night. 🙂
Johnnie, try http://electricfountain.home.att.net/
The website isn't exactly current, but there's some good history.
It may not be directly relevant to DenverInfill, but it's a very cool thing for Denver! Thanks for pointing it out.
Just curious why is 88 unit development a huge improvement over a row of townhomes? Also, it seems like 4 stories would dwarf the surrounding area. Not good news.
Does the Denver planning office need approval from HUNI?
I live very close to this site. I would say if there is any higher density in the neighborhood, then this would be an OK area do to it. The roads are wider and the access easier, plus I don't think there is much of a parking problem there. Put it closer to 32nd and Zuni, and that becomes more problematic.
Regarding tax credits, developers can get tax credits for building affordable rental housing. The amount varies by the % of units and the income levels they are targeted for. I believe 80% of AMI is the top income, and maybe at least 20% of the units. The tax credits are not all automatic, they have to be applied for through the state.
Depending on the area, getting full market rent for your units can far outweigh the value of any tax credits. Also, getting the tax credits requires a lot of compliance for 15 years.
I also live close to the site and I am a little concerned about the number of units for that location. I look forward to seeing more detail on the project.
I also heard that the hotel next to the Hampton Inn is going to be redeveloped. Any news on that project?