City Selects Partner to Build Affordable Housing in Globeville

Published on September 22, 2022

At least 170 income-restricted units to be built at 4995 Washington St.

Denver’s Department of Housing Stability (HOST) and Department of Finance have selected Globeville Redevelopment Partners to build at least 170 income-restricted rental units at 4995 Washington St. in Globeville. The selection results from a request for proposals, issued in March 2022, to identify developers to deliver a project that meets housing and community needs at city-owned parcels located at the southwest corner of Washington St. and 50th Ave.

The Department of Finance has executed a letter of intent with Globeville Redevelopment Partners to develop apartments that will be income restricted for a range of incomes, from 30% to 80% of the area median income (AMI). At least half of the apartments will be three- and four-bedroom units.

The 2.7-acre site was acquired by the city in 2019, with the intent that the land would be utilized for a mixed-use development of affordable housing and meet a need for community space in the area.

“Affordable housing is critical throughout Denver, including in Globeville, where we set out an intentional strategy to acquire land, recruit partners, and develop family-sized units with permanent affordability in mind,” said HOST Executive Director Britta Fisher. “We’re fortunate to have forged community partnerships to make this vision possible.”

Globeville Redevelopment Partners is a new partnership that includes Evergreen Real Estate Group, Rocky Mountain Communities, and the GES Coalition. The City and County of Denver will retain ownership of the land, and the developer will enter into a 99-year land lease for the property, pending City Council approval. The land lease arrangement ensures permanent affordability of the income-restricted units.

“We are grateful to the City and County of Denver and HOST for their confidence and trust in our ability to bring a catalytic mixed-use affordable housing project to 4995 Washington Street,” said Javonni Butler, project manager, Evergreen Real Estate Group. “We value the partnership of the City and County of Denver and HOST, which is vital for a project of this magnitude to be successful. We view the opportunity to develop 4995 Washington as a privilege and we are excited to begin a collaborative community engagement process as we solidify the project design, and program.”

The development will also include space on the ground floor for a community-serving use, which has yet to be finalized.

“The GES Coalition came onto this development team because of the commitment to community stewardship, the deep affordability of units and community benefiting retail,” said GES Coalition Co-Director Nola Miguel. “We are excited to partner with community members in Globeville and the development team to ensure this project prevents displacement in GES and provides the needed services in our community. Tierra Colectiva, the GES Community Land Trust, will continue to steward this property not only during development but for years to come to ensure its connection and accountability to the Globeville community.”