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City celebrates grand opening of new affordable apartments in Five Points

1 November 2016 by Welton Corridor

 
“DENVER, CO ­— Tuesday, November 1, 2016 — Denver’s inventory of affordable housing units is on the rise with the completion of a new, 223-unit apartment complex in Five Points. City, state and federal officials today celebrated the grand opening of Welton Park, an income-restricted development located at 2300 Welton St.

The $43 million project, developed by Century Development, received financing from several public and private sources including the Denver Office of Economic Development (OED).

“Through Welton Park, hundreds of individuals and families not only have a new, affordable place to call home, but direct access to all that Denver and our central neighborhoods have to offer including critical transit,” Denver Mayor Michael B. Hancock said. “Keeping Denver accessible and affordable is one of my top priorities, and this is a key project that provides great momentum towards our affordable housing goals.”

The project encompasses two infill redevelopment parcels spanning Welton Street from Park Avenue West to 24th Street, and along Park Avenue West from Welton Street to Glenarm Place. Rental units range from studios to three-bedrooms and are available to households earning 60 percent or less of the area median income (up to $43,260 for a family of three).

Welton Park includes two separate structures (3-story and 4-story) and is located two blocks from light rail access. Features include underground parking, central courtyard, fitness center, and bike storage and maintenance center.

“Welton Park is a signature affordable project that will contribute greatly to the community development and vitality of Five Points,” said Council President Albus Brooks.

Residents began moving into Welton Park earlier this fall. Century Development is still accepting applications from prospective residents for the remaining units. For more information on leasing, visit www.weltonpark.com.

Welton Park is the fifth OED-funded affordable, multifamily development to be completed in 2016. The development represents the latest affordable units to be created under the Mayor’s “3×5 challenge.” Announced in mid-2013, the challenge calls for the development, rehabilitation or preservation of 3,000 affordable housing units over five years. The city and the real estate community have produced 2,267 units thus far, and an additional 816 units are currently under construction.

The OED provided $1.1 million in financing to help support land acquisition for the development. Funds originated from the city’s Inclusionary Housing Ordinance special revenue fund. Other financing partners include the U.S. Department of Housing and Urban Development, Colorado Housing and Finance Authority, Colorado Division of Housing and the Denver Urban Renewal Authority.”

read the entire article

City of Denver Press Release 1 November 2016.
 

Posted in: IN THE NEWS Tagged: 2300 Welton, affordable, Housing, OED, Office of Economic Development, press release, Welton Park
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About

Informational links, announcements, and media coverage for Denver, Colorado's Welton Corridor neighborhood meetings, development projects, transit issues, Business Improvement District, and community affairs.

Recent Posts

  • Melody Market will close at the end of January. It’s the latest Black-owned business to leave Welton Street 19 January 2023
  • Haroun Cowans, new chair of the Five Points BID, talks the future of Welton Street 16 January 2023
  • Is Five Points dead? Co-owners of a new business have a few things to say about Denver’s historic neighborhood 6 January 2023
  • History Colorado is heading out on a road trip to research and preserve Green Book sites 5 January 2023
  • Marigold, a plant store and bar, to open in Five Points 5 January 2023
  • After temporary hiatus, Coffee at the Point permanently closes 4 January 2023
  • RTD is officially killing its C and F lines after suspending them during the pandemic 14 December 2022
  • Five Points and West Colfax are hoping people stop by to shop and donate 7 December 2022
  • RTD will shut down the L line for two months in the spring 15 November 2022

Upcoming Events

Feb
6
Mon
2023
3:30 pm Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Feb 6 @ 3:30 pm – 8:00 pm
Denver City Council Calendar https://denver.legistar.com/Calendar.aspx Monday Meetings Begin at 3:30 p.m. and recess between 5:00 and 5:30 p.m. for the General Public Comment. The council meeting continues at 5:30 p.m. City Council meetings are open ... [Read more...]
Feb
8
Wed
2023
7:00 pm Heart of Five Points RNO Meeting
Heart of Five Points RNO Meeting
Feb 8 @ 7:00 pm – 8:30 pm
Heart of Five Points webpage https://www.heartoffivepoints.com/ Meetings second Wednesday of the month 7:00 PM
Feb
13
Mon
2023
3:30 pm Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Feb 13 @ 3:30 pm – 8:00 pm
Denver City Council Calendar https://denver.legistar.com/Calendar.aspx Monday Meetings Begin at 3:30 p.m. and recess between 5:00 and 5:30 p.m. for the General Public Comment. The council meeting continues at 5:30 p.m. City Council meetings are open ... [Read more...]
Feb
20
Mon
2023
3:30 pm Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Feb 20 @ 3:30 pm – 8:00 pm
Denver City Council Calendar https://denver.legistar.com/Calendar.aspx Monday Meetings Begin at 3:30 p.m. and recess between 5:00 and 5:30 p.m. for the General Public Comment. The council meeting continues at 5:30 p.m. City Council meetings are open ... [Read more...]
Feb
23
Thu
2023
10:00 pm Curtis Park Ice Festival @ Stout Street Children's Park
Curtis Park Ice Festival @ Stout Street Children's Park
Feb 23 @ 10:00 pm – Feb 24 @ 12:00 am
Cupcakes, hot chocolate, ice sculptures, games and snow cones for kids at the Stout Street Children’s Park, 25th and Stout. Sponsored by Curtis Park Stewards, Curtis Park Neighbors, and Curtis Park Kids.
Feb
27
Mon
2023
3:30 pm Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Feb 27 @ 3:30 pm – 8:00 pm
Denver City Council Calendar https://denver.legistar.com/Calendar.aspx Monday Meetings Begin at 3:30 p.m. and recess between 5:00 and 5:30 p.m. for the General Public Comment. The council meeting continues at 5:30 p.m. City Council meetings are open ... [Read more...]
Mar
2
Thu
2023
6:30 pm Curtis Park Neighbors Public Mee... @ Mile High United Way
Curtis Park Neighbors Public Mee... @ Mile High United Way
Mar 2 @ 6:30 pm – 8:00 pm
  The Curtis Park Neighbors meets at 6:30 pm the first Thursday of every month at Mile High United Way 711 Park Avenue, Denver, CO.   AGENDA   Curtis Park Neighbors website.   Meeting dates ... [Read more...]
Mar
6
Mon
2023
3:30 pm Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Mar 6 @ 3:30 pm – 8:00 pm
Denver City Council Calendar https://denver.legistar.com/Calendar.aspx Monday Meetings Begin at 3:30 p.m. and recess between 5:00 and 5:30 p.m. for the General Public Comment. The council meeting continues at 5:30 p.m. City Council meetings are open ... [Read more...]
Mar
8
Wed
2023
7:00 pm Heart of Five Points RNO Meeting
Heart of Five Points RNO Meeting
Mar 8 @ 7:00 pm – 8:30 pm
Heart of Five Points webpage https://www.heartoffivepoints.com/ Meetings second Wednesday of the month 7:00 PM
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