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We highly value equity and inclusivity and think it should be part of our vision for the next big urban center in the Front Range.” Grafton, the city’s economic development officer, said holding that kind of leverage makes it easier for cities to approach developers with a carrot-over-stick approach.
Instead of mandating that a certain number of units be affordable as part of any given project, the city can fold those goals into the land acquisition process so that the lower-priced units can be factored into the economics of the overall deal from the start.
The Aurora Housing Authority, which owns 800 units across 16 buildings in the city, just embarked on the third and final chapter of the Village at Westerly Creek affordable housing project in August.
Phase three will add 74 units and expand access to the complex beyond senior households to include families with children.
But achieving affordable housing goals like the ones Golden outlined last month can be a tall order, given the high costs of land and construction.
A piece of that renewal attacks a growing problem across the Denver metro area: the scarcity of affordable housing.The Village at Westerly Creek project is a revamp of what was once called the Buckingham Gardens public housing complex, which the authority first purchased nearly 40 years ago.Maraschky calls the redevelopment effort a reinvention of an aging property.Adams County has become a magnet for many young families priced out of Denver, according to recent U. The City Council approved incentives to the developer in the form of waived fees and tax breaks.In Lakewood, the 40 West Residences opened its 60 affordable units in October, with 25 of those homes reserved for homeless veterans.
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