AFFORDABLE HOUSING
New Updates in the Globeville Redevelopment Project: Pioneering Sustainable, Affordable Housing in Colorado
What CCEF
Financed
Architectural Design
Mechanical Design
Energy Consultancy
Remediation Planning
Environmental Reporting
About the Project
Project investment: $1,000,000
Location: Globeville neighborhood in Denver, CO
Environmental highlights:
- Mass timber as primary building material
- All electric building, solar infrastructure
Key terms:
- Superfund site: polluted locations in the U.S. requiring long-term cleanup of hazardous material contaminations, as part of the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) established by Congress in 1980
- Operable Unit (OU): distinct areas of a Superfund site where specific geographic areas or site problems need to be addressed, or where a specific remediation action is required
- Cross-laminated timber (otherwise known as CLT or mass timber): building material consisting of planks of sawn, glued, and layered wood where each layer is oriented perpendicular to the previous
“We can make [mass timber] work in affordable housing in communities that deserve high level design.”
– Javonni Butler, Evergreen Real Estate Group development partner
The Story
We are thrilled to share an update on the transformative Globeville Redevelopment Project, a city-sponsored initiative on the north side of Denver that is set to bring much needed affordable housing to a community in Colorado. This ambitious project aims to create 170 affordable housing units, half of which will be available at 50% Area Median Income (AMI) or lower to support low to moderate income households.
The Globeville Redevelopment Project is more than just a housing development; it’s a long-term investment in the neighborhood’s future. Designed with community input in mind, this project marks the first mass timber affordable housing project in Colorado, reflecting a commitment to sustainability by capturing carbon and a higher-level finish.
“We can make [mass timber] work in affordable housing in communities that deserve high level design,” says Javonni Butler of Evergreen Real Estate Group, one of the primary development partners in the Globeville project.
Some of the key features in this project include:
- Affordability and Inclusivity: With 170 affordable housing units, half of which will be available at 50% Area Median Income (AMI) or lower, this project ensures critical affordable housing.
- Green Space: The development will feature 50,000 square feet of green space on-site, providing a vibrant, natural environment for residents.
- Community-Centered Design: The project includes a community room, a new branch of the Denver Public Library, and a large courtyard, emphasizing community involvement and interaction.
- Sustainable Infrastructure: The building will meet National Green Building Standards (NGBS), include Energy Star appliances, and utilize mass timber and cement board type materials, setting a new standard for eco-friendly affordable housing.
- Environmental Justice: The project addresses historical environmental injustices in Globeville through sustainable infrastructure, a neighborhood once recognized as the most polluted zip code in the United States.
Over the past two and a half years, substantial pre-development work has been completed. The project is now moving towards obtaining permits in the fourth quarter of this year, with financing lined up and city support secured. By the end of 2024, construction is slated to begin.
Community involvement has been critical to the success of this project. The Globeville, Elyria-Swansea Coalition Organizing for Health and Housing Justice, or GES Coalition, has led community development meetings, ensuring that the project reflects the needs and aspirations of local residents. Composed of neighborhood leaders and community organizers, the GES Coalition is dedicated to creating affordable housing options for residents in North Denver. This project creates a new standard in affordable housing through innovative design, sustainability, and community empowerment.
CCEF is proud to be part of this groundbreaking initiative by providing $1 million in pre-development funds and we look forward to the positive impact it will have on the Globeville community. Stay tuned for more updates as we anticipate the project to break ground in the next six to eight months!
Images Source: Evergreen Real Estate Group
