More affordable housing is coming to Central Park.
On Monday, officials celebrated the groundbreaking of the Northfield Flats, a five-story, 129-unit housing complex with a mix of one to three bedrooms.
All of the units are income-restricted for Denverites making up to 80% of the area median income. For a family of three, 80% AMI is about $80,500. About a third of the units will be for those making at or below 30% AMI, which is about $31,650 for a family of three.
The project was developed by Mile High Development and Brinshore Development and was partially funded using the city's Affordable Housing Fund. The Department of Housing Stability provided $4,515,000 in gap financing. Other partners include the Colorado Department of Local Affairs and the Colorado Housing & Finance Authority.
"Projects like Northfield Flats make a tremendous difference for hard-working residents and families, and we're proud to help make this possible thanks to Denver's Affordable Housing Fund," said Mayor Michael Hancock in a press release.
Having the project live in Central Park, the city's largest neighborhood, will increase housing and could diversify the neighborhood's income levels.
Central Park is a predominantly white neighborhood and according to 5280, the average household income is $135,166. According to city data, about 73% of Central Park residents own their home.
"Today we continue to ensure that Central Park offers a wide range of housing stock to serve Denverites from all walks of life," said City Councilmember Christopher Herndon in a press release.
The project is also in a central place. Located at 4545 Xenia St., the complex sits near plenty of retail, grocer options and the Central Park Boulevard bus stop, which leads to the Central Park RTD station.
"Northfield Flats is the ideal type of location for an affordable housing project, given its accessibility to jobs, schools, parks, and easy access to the A Line Central Park Station," said George Thorn, President of Mile High Development in a press release. "Also, the retail support within the Shops at Northfield provide grocery shopping at Target, and a variety of other shops, all with easy pedestrian access from Northfield Flats."
This is the second celebration of affordable housing in Central Park this month.
On April 14, officials celebrated the opening of the Central Park II and III Apartments, which brought 217 units to the area.
Central Park III at 3500 N. Uinta St. is within walking distance to the Central Park station. It's a three-story building with 127 units ranging from studios to three bedrooms.
Central Park II at 5173 N. Beeler St. has 90 units. Both complexes are for those making from up 60% AMI to less than 30% AMI.
This project was developed by the Northeast Denver Housing Center, which has built almost 1,000 affordable rental apartment units in Central Park, according to NDHC Executive Director Dominique Acevedo.
The nonprofit previously opened a 132-unit affordable condo complex in Central Park in July 2021. They are currently working on another affordable condo complex with 70 units for those earning up to 80% AMI.
With Northfield Flats, HOST says a total of 1,950 affordable units have received city financing and are currently under construction at 34 sites across the city. About 599 units are in the planning stage.
HOST added that the city has surpassed the 26,000-mark for affordable homes. That number currently sits at 26,358 income-restricted units.
Correction: This story has been updated to note that the 1,950 affordable units that have received funding are located at 34 sites across the city. They aren't separate.
