A sizable mixed-use development project with buildings of up to 16 stories has been proposed for Denver’s West Colfax neighborhood, according to a presentation posted on the West Colfax Association of Neighbors website.
The documents detail a plan for the corner of 17th Avenue and Newton Street, a parking lot where Zocalo Community Development wants to build a 515,000-square-foot development, including housing, a community engagement center, and commercial retail space.
While the original plan called for an increase in medical offices for Sloan’s Lake Medical Center and some space for a couple of residential housing towers, the new plan would allow the lot to retain the existing medical center while adding a more diverse uses.
The proposed development would bring additional housing targeted at a few different income levels. Zocalo intends to build approximately 355 housing units, with 170 of them priced at market rate value and 185 of them being affordable to people making around 60 percent of the area median income (AMI).
The affordable housing units would be financially supported in part by the adjacent market-rate housing, according to the presentation materials. A few — perhaps in the single digits — of those affordable units would be three-bedroom houses priced closer to 50 percent of the AMI, to help attract families.
The new development would include approximately 5,000 square feet of retail or restaurant space and about 12,000 square feet of office space, supported by at least 600 parking spots. A 6,000-square foot community-focused retail space would also be available at no cost to that particular tenant.
We’ve reached out to Zocalo and will update this story when we hear back.