Denver proposes $3 million loan for 118 apartments at 1001 Lincoln
The agreement would keep all units income-restricted for 60 years, set four income tiers and establish a conditional June 2027 closing deadline.
Denver’s proposed $3 million loan for 118 affordable apartments at 1001 Lincoln St. would require all units to remain income-restricted for 60 years under a recorded covenant, under terms in the loan agreement filed with the city.
The agreement sets income limits for the apartments: 13 units for households earning up to 30% of area median income, 42 at 50%, 47 at 60% and 16 at 70%. It also sets rent limits tied to those income levels.
The covenant would be signed and recorded at closing, and its 60-year term would begin on the recording date. The agreement sets June 9, 2027, as the deadline to close the loan, subject to conditions including securing financing to complete the project and submitting required project, title, environmental, insurance and construction documents.
The agreement does not establish that the loan has closed or the covenant has been recorded. A resolution filed with the city records committee approval by consent on Sept. 22, 2026; the resolution does not establish full City Council approval.