Denver Celebrates Grand Opening of 133 New Affordable Apartments

Published on March 26, 2021

Sheridan Station Apartments offers income-restricted residences adjacent to RTD’s W Line
Mayor Michael B. Hancock and other officials celebrated today’s grand opening of the Sheridan Station Apartments, offering 133 units of permanently affordable rental housing at Sheridan Station on the Regional Transportation District’s W Line. Located at 5330 W. 11th Ave., the project was developed by Mile High Development and Brinshore Development. The site is part of the Urban Land Conservancy’s Community Land Trust, ensuring the property will remain affordable for generations through a 99-year renewable ground lease.

“Community investments like the Sheridan Station Apartments are making a lasting difference in the lives of families and helping to keep Denver affordable and accessible for generations to come,” Mayor Hancock said. “This is a prime example of how we’re removing the barriers holding back our residents from the prosperity they’ve earned and fulfilling the promise of equity and opportunity in our city for all our residents.”

Sheridan Station Apartments is a $41 million development that is the culmination of 10 years of effort to bring affordable housing to the Sheridan Light Rail Station. All units within the eight-story building are restricted for households earning up to 60% of the area median income (up to $42,000 for a single-person household, or up to $54,000 for a family of three).

Denver’s Department of Housing Stability provided $1,995,000 in financing from the city’s Affordable Housing Fund to help support construction costs.

The project topped out in March 2020, just as the COVID-19 pandemic was setting in, impacting all facets of life in Colorado, including many construction projects. In spite of the challenges, construction never paused on Sheridan Station Apartments, as the development team pushed to get the project finished for families in the community.

“The construction team was able to be extremely nimble and manage the ever-changing situation, accommodating late deliveries and finding solutions to challenges with getting some materials to the site,” said George Thorn, president and founder of Mile High Development. “The team also kept safety top-of-mind, limiting the number of people allowed on a given floor at a time in order to keep workers appropriately spaced. We performed temperature checks at the site, and everyone wore masks.”

The 28,000-square-foot site is located steps from the light rail station with easy access to Lakewood and Dry Gulch Park, as well as downtown Denver and other locations connected by light rail.

Mile High Development negotiated a long-term parking lease with RTD, which helped reduce the number of parking spaces in the building, maximize the number of units, and optimize the footprint of the building to keep the project in budget. Residents have access to parking in the adjacent garage.

Sheridan Station Apartments is the latest city-supported affordable housing development to open in Denver. A total of 1,598 affordable units that have received city financing are currently under construction at 22 sites throughout Denver. An additional 953 income-restricted units are in the planning stage.