Renaissance Riverfront Lofts Development in South Platte River Neighborhood
Denver Mayor John Hickenlooper and City Councilwoman Judy Montero participated in a groundbreaking event on January 8, 2008, celebrating the development of the Colorado Coalition for the Homeless (CCH) Renaissance Riverfront Lofts. The affordable housing development’s design and construction is in accordance with the Enterprise Green Communities sustainability guidelines, which promote energy efficiency and environmentally responsible construction.
“Renaissance Riverfront Lofts represent a new era for Denver—an era in which green residential construction becomes available to everyone, including our low-income and formerly homeless residents,” Hickenlooper said. “The Green Communities approach is good for our environment and good for our bottom line. In this particular project, it is also extremely beneficial socially, providing affordable housing and ensuring reduced energy costs for Renaissance residents.”
The projects links a number of City priorities, including sustainability efforts under Greenprint Denver as well as Denver’s Road Home, the City’s 10-year plan to end homelessness.
Located along the South Platte River at 3400 Park Avenue West, the 100-unit apartment development received a federal affordable housing subsidy through the Denver Office of Economic Development (OED). The development is one of the first City-supported housing sites to follow the Green Communities criteria. OED recently adopted the Green Communities criteria for all City-supported affordable housing. Beginning in January 2010, all affordable housing projects receiving City subsidies will meet Green Communities standards.
The Renaissance Riverfront Lofts will feature one- and two-bedroom rental loft apartments targeted to a variety of incomes. The development supports the Denver’s Road Home goal of establishing permanent housing opportunities for the homeless, with approximately 40 percent of the units reserved for formerly homeless individuals. The remainder of the units are for lower income households at or below 50 percent of the area median income.
“This development will help to meet a critical housing need in Denver for both homeless individuals and persons working downtown who cannot afford to live in the nearby luxury loft developments,” said John Parvensky, president of the CCH. “It will help create a lasting solution to homelessness by integrating supportive housing for persons with disabilities with affordable housing for working individuals.”
CCH has developed more than 1,500 housing units in metro Denver over the past 10 years. The Renaissance model is focused on integrating formerly homeless families and individuals into mixed income housing developments that enhance the neighborhoods in which they are located.
“I’m excited to welcome this innovative green housing development to District Nine,” said Denver City Councilwoman Judy Montero. “While there is such a strong need for affordable rental housing throughout Denver, it’s exciting to add an energy and water efficient development that has the least impact on our environment.”
The first national framework for healthy, efficient, environmentally smart affordable homes, Green Communities covers energy efficiency, water efficiency and indoor air quality. The standards were developed by Enterprise Community Partners, Inc., and are aligned with the LEED (Leadership in Energy and Environmental Design) Green Building Rating System.
“Enterprise developed Green Communities with the goal of making environmentally sustainable development the mainstream in the affordable housing industry,” said Karen Lado, Enterprise Denver Office director. “We are honored to be working with the City to make this goal a reality in Denver.”
OED helps fund the construction of approximately 100 for-sale and 250 rental affordable housing units annually. Subsidies are provided through federal funds received from the U.S. Department of Housing and Urban Development. Affordable units are offered to individuals that meet the income requirements. Units are deed restricted to ensure long-term affordability within the Denver market.
The Denver Office of Economic Development (OED) works to create a local environment that stimulates balanced economic growth through job creation, business assistance, housing options and neighborhood redevelopment.
The mission of the Colorado Coalition for the Homeless is to work collaboratively toward the prevention of homelessness and the creation of lasting solutions for homeless and at-risk families, children and individuals throughout Colorado. CCH advocates for and provides a continuum of housing and a variety of services to improve the health, well-being and stability of those it serves.
Enterprise Community Partners is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. For 25 years, Enterprise has pioneered neighborhood solutions through public-private partnerships with financial institutions, governments, community organizations and others that share its vision. Enterprise has raised and invested $7 billion in equity, grants and loans and is currently investing in communities at a rate of $1 billion a year.