New Apartments Funded for Individuals Transitioning from Homelessness
Published on September 27, 2021
$2.35 million city investment makes southwest Denver development viable
Denver City Council tonight approved $2.35 million in funding to deliver an additional 49 affordable apartments for individuals transitioning from homelessness. Groundbreaking for Rhonda’s Place, a five-story apartment building offering one-bedroom apartments with supportive wraparound services, will soon begin at South Federal Boulevard and West Cedar Avenue in the Barnum neighborhood. The development is the latest in a series of programs to receive funding from Denver’s Department of Housing Stability (HOST) to rehouse people experiencing homelessness.
Developed by the nonprofit REDI Corporation, Rhonda’s Place is a $17.3 million project that will offer income-restricted units for individuals earning up to 30% of the area median income (up to $22,050 for a single-person household). The project will provide supportive services and connections to community-based supports tenants need to keep their housing and avoid a return to homelessness.
“The need for safe, supportive housing is greatest among our unhoused neighbors, and Denver is leaning in with this team of partners and funders to bring much-needed apartments and services online for these individuals,” Mayor Michael B. Hancock said. “As a city, we will continue to focus our resources and advance policies to build more housing and to help individuals exit homelessness as quickly as possible.”
HOST is providing a $1.5 million performance loan to Rhonda’s Place to support construction costs, as well as $825,000 to fund supportive services over 15 years. Other public financing partners include the Colorado Housing & Finance Authority, and the Colorado Division of Housing, including subsidy vouchers for all units to ensure residents pay no more than 30% of their total income on housing costs.
Rhonda’s Place is one of many initiatives underway to move individuals experiencing homelessness into housing:
- HOST is currently funding 254 other supportive housing units that are under or pending construction at four other sites throughout Denver.
- Earlier this month, Denver was selected as the first city to be awarded a Social Impact Partnerships to Pay for Results Act (SIPPRA) award from the U.S. Treasury Department. Modeled after Denver’s successful Supportive Housing Social Impact Bond Initiative, grants totaling $6.4 million will help provide supportive housing to individuals who have experienced homelessness, have a criminal record, and are at high risk for avoidable high-cost health services paid by Medicaid.
- Mayor Michael Hancock’s proposed 2022 budget includes a $190 million investment to support more affordable housing development and preservation, as well as housing access, housing stability, and homelessness resolution programs.
For more information on housing resources available to Denver households, visit Denvergov.org/housing.