Denver seeks $1.72 million for 28 affordable Loretto Heights rowhomes
The proposed agreement would route state funds to Thrive Home Builders for for-sale homes targeted to households earning up to 100% of area median income, with a stated 99-year affordability term.
Denver’s Department of Housing Stability is asking the City Council to approve $1,722,590 in state housing funds for 28 for-sale rowhomes at Loretto Heights. The homes would target households earning up to 100% of area median income and have a stated 99-year affordability period, according to the department’s Sept. 17 resolution request.
The request says Colorado awarded Denver the funds through the state’s Proposition 123 Affordable Housing Opportunity Program. If the council approves the proposed agreement, the city would pass the money to Thrive Home Builders for the project in Council District 2.