City of Denver Celebrates Grand Opening of Holly38

Published on May 21, 2025

The City and County of Denver today celebrated the grand opening of Holly38, bringing 253 income-restricted rental homes to the Northeast Park Hill neighborhood. The development is a key step forward in expanding access to affordable housing for individuals and families across the city.

Developed by Delwest Development Corp., Holly38 is located on a six-acre site at 3800 N. Holly St. and 5909 E. 38th Ave. It includes eight three-story residential buildings, two of which feature 29 four-bedroom townhomes with attached garages, addressing the critical need for larger family-friendly units in Denver’s housing market.

“This is a proud day for Northeast Denver,” said Mayor Mike Johnston, who joined community leaders, housing advocates, and partners to commemorate the opening. “Holly38 is reflection of our commitment to keeping Park Hill affordable and to building a Denver where families of all sizes and incomes can live and thrive.”

Holly38 offers one- to four-bedroom homes, all income-restricted for households earning between 30% and 80% of the area median income (AMI).

“We are deeply grateful to the many partners, supporters, and champions who helped bring Holly38 to life,” said Joe DelZotto, President and CEO of Delwest Development Corp. “Creating 253 units of affordable housing doesn’t happen without a village—and this milestone reflects the dedication of city leaders, community organizations, funding partners, and countless individuals who believe in the power of stable, dignified housing. Together, we’re building more than homes—we’re building opportunity, security, and a stronger future for Denver families.”

The $93.9 million development was made possible through several funding sources. HOST provided $8,319,000 in gap financing from American Rescue Plan Act funds and the federal HOME Investment Partnerships program. Other public finance partners include the Colorado Department of Local Affairs, Colorado Housing & Finance Authority, and Denver Housing Authority.

This development also aligns with 2025 citywide goals, which aim to create 3,000 new affordable homes and close the affordability gap through innovative solutions. As Denver continues its progress on major priorities, projects like Holly38 demonstrate a clear commitment to building a Denver that is truly vibrant, affordable, and safe for everyone.