What’s so special about the 13 new income-restricted units under construction at 24th and Stout? These ones are for sale.
For Denver city officials, that’s cause for celebration.
“These are critically needed multiple-bedroom, for-sale units, which will also contribute to longer-term stability for families,” said Mayor Michael Hancock in a press release.
Seven affordable units will go moderate-income residents earning about 80 percent of area median income. The remaining six units were reserved for people earning up to $86,520 for a three-person household, according to the Denver Office of Economic Development.
All of the units have three bedrooms, two bathrooms, parking and approximately 1,400 square feet.
If that sounds like something you’d like to check out, sorry. All the units have been already pre-sold to income-qualified buyers.
Though the site of the new homes is just two blocks from the light rail, the site has been unimproved and vacant for 50 years, according to the Denver OED. Perhaps in part because it was owned by the Denver Housing Authority until last year.
Developer The Morrison Group, Inc. bought the land from DHA in 2016 for $238,000. The project also received $350,00 in funding from the Denver OED for the seven units priced for 80 percent area median income.
Construction is expected to be complete in early 2018.