Denver committee approves $6.314 million contract for 82 condos at 507 Acoma

Denver’s Community Planning and Housing Committee approved a $6.314 million contract with the Colorado Department of Local Affairs to develop 82 income-restricted, for-sale condominiums at 507 Acoma, according to the committee’s Sept. 15 minutes.

The consent-item approval, Resolution 26-1340, identifies the contract as HOST-202684078 and sets an end date of Jan. 31, 2031. The project is in City Council District 7.

Project materials call the development Bannock Lofts and describe a mix of 19 one-bedroom, 56 two-bedroom and seven three-bedroom condominiums. They say the units are intended for households earning no more than 100% of area median income.

The materials list initial maximum sale prices of $285,700 for one-bedroom units, $328,650 for two-bedroom units and $371,350 for three-bedroom units. Those prices match Denver’s 2026 maximum initial sale-price schedule for income-restricted homes at 80% of area median income. The city’s project request says the funding will come from the Proposition 123 Affordable Housing Opportunity Program and be passed through to Elevation Community Land Trust.

The project request projects construction beginning in the fourth quarter of 2026 and completed units becoming available in 2028. Those are projected dates, not a verified construction start or firm completion date. The committee’s approval does not establish that the full City Council has taken final action, that the agreement has been executed or that funds have been disbursed.