DENVER — A new affordable housing community in Denver's Westwood neighborhood held its grand opening Tuesday.
Avenida del Sol, an 80-unit affordable family housing development serving families and individuals, was developed by Gorman & Co.
> Video above: Tips for navigating a pricey rental market.
The development is located at 5048 Morrison Road, near West Mississippi Avenue and South Sheridan Boulevard.
With construction recently finished, Avenida del Sol is now leasing up with low- and moderate-income tenants, said Denver’s Department of Housing Stability (DOTI).
The project includes one, two and three-bedroom units. All units are income restricted, including "deeply affordable" units for individuals and families earning up to 30 percent of the area median income (up to $22,050 for a single-person household), according to DOTI. Thirty percent of Avenida del Sol apartments will be three-bedrooms for families.
The project was supported with $1,415,000 in financing from Denver’s Affordable Housing Fund.
“Avenida del Sol is a critical element to this neighborhood’s dedicated, multi-faceted investment efforts," said Kimball Crangle, Colorado Market President of Gorman & Company. "We are pleased to be able to provide affordable, newly constructed housing for a community that desires to remain in their chosen neighborhood in the face of gentrification pressures."
"Economic trends in the Westwood neighborhood point to a significant need for affordable housing units," said Brian Swanton, President & CEO of Gorman & Company. "One of the few ways to buck that trend is through the production of new, high quality, affordable housing. Avenida del Sol accomplishes just that. While more is needed, this development adds to the work being accomplished in the neighborhood."
> Top stories curated daily just for you! Sign up for the 9NEWSLETTER to get can’t-miss stories, Next and Broncos content, weather and more delivered right to your inbox.
SUGGESTED VIDEOS: Colorado housing market
MORE WAYS TO GET 9NEWS
Subscribe to our daily 9NEWSLETTER
Download the 9NEWS APP
iTunes: http://on9news.tv/itunes
Google Play: http://on9news.tv/1lWnC5n
HOW TO ADD THE 9NEWS APP TO YOUR STREAMING DEVICE
ROKU: add the channel from the ROKU store or by searching for KUSA.
For both Apple TV and Fire TV, search for "9news" to find the free app to add to your account. Another option for Fire TV is to have the app delivered directly to your Fire TV through Amazon.