Construction on The Stella, an affordable housing development in the Globeville neighborhood is now well under way. The developer, Gorman & Company, specializes in community revitalization and hopes to deliver just that with this project. Financed through a combination of federal and state low income housing tax credits and loans backed by the Colorado Division of Housing and the City of Denver, this project represents a public/private effort to improve affordability and housing options for area residents.
" We are actively working to provide housing options for households that are facing expensive housing options anywhere in the City. We believe in high quality housing, that promote excellent livability options for a variety of households along a spectrum of affordability."
The project is the second phase of construction on the site owned by Laradon, a Denver based non-profit organization dedicated to providing services for children with intellectual and developmental disabilities. The first phase of the project was completed earlier this year and provides 91 income restricted units to the area, 25% of which are reserved for disabled residents. The second phase of the project is expected to be even larger, bringing 132 new units to the area in a 4-story block.
Check out the construction progress below (click to enlarge).
The buildings cores have fully topped out and construction crews are now making swift progress on framing and weatherproofing installation. Construction on The Stella is expected to wrap up next summer, we’re looking forward to revisiting this project in upon its completion in 2021.
Great project. Looking forward to seeing the follow up post.