Estimated construction to start early 2023 and deliver early 2024
All units are priced at $225,000 (subject to change)
Remarkable affordable housing opportunity to own in the heart of Central Park!! Located just minutes from the Central Park Blvd. and 54th Ave. bus stop and immediately adjacent to commercial services and retail. Each unit contains 9’ ceilings and large windows allowing natural light to reach all parts of the units, enhancing daylighting and views while decreasing energy cost and usage. All of the units have private patios or balconies (first level units may differ). An indoor/outdoor community club room, playground, and urban orchard are located on the northeast corner of the building for residents to utilize as gathering spaces for social activities and rest. Benches and pedestrian scale lighting are scattered throughout the site to encourage relaxation in the common outdoor spaces. 2 bed, 2 bath ** 800 sq. ft ** 2 reserved parking spaces ***
As part of Denver's affordable housing program a minimum and maximum Income limit applies based on household size -- Household of 1 min: $41,050, max: $62,600. Household of 2: min: $46,900, max: $71,550. Household of 3 min: $52,750, max: $80,500. Household of 4 - min: $58,600 max: 89,400. Owner occupants only, not open to investors. Aside from the income guideline, buyers must meet a 35% housing ratio. Please note that the city will use any and all income coming into a household where a lender may not. There are expert lenders that can guide you through the process. Some of them are listed below.
Most of the units in the building will carry a 20 year Affordable Covenant, some will carry a 30 year restriction. Those with a 30 year restriction are labeled as "STATE" units on our site plan.
HOW TO VIEW AND SELECT AVAILABLE UNITS
Scroll down to site plans (renderings of the building), select a floor (1, 2 or 3) use your mouse to go over each unit - if a unit is reserved, it will show as not available, if a unit is open, it will allow you to click the unit and its specific floor plan will come up. Make a note of those 3 top choice units and add them to the reservation form in order of preference.
An initial $500.00 refundable deposit is required to reserve a unit along with a lender letter (pre-qual is acceptable during this pre-construction process) and a reservation form. (Click below for on line reservation form). Checks can be delivered and payable to First American Title - 3033 S. Parker Road Suite 508 Aurora, CO 80014. This is the only location where deposits are being accepted right now. During nights and weekends, checks can be delivered to our offices' drop box located at 600 Grant Street (corner of 6th Avenue and Grant Street) - drop box is labeled COLDWELL BANKER and it is located to the left of the front door on Grant Street.
This initial offering is for a pre-construction reservations only, once construction starts, we will convert all reservations to contracts.
HOA is estimated at $200.00 per month. Property Taxes have not been assessed yet but each lender will have different requirements to estimate them for qualification.
We do not have preferred lenders, however, we recommend some experts on this field who are very knowledgeable of the affordable program. Some of the expert lenders we have relied on in the past are:
Lori Graham – Mortgage Navigators – email@example.com – 303 249 2728
Sandy Levy – Universal Landing – firstname.lastname@example.org – 303 759-7402
Craig Moore – Summit Funding – email@example.com – 303 914 1302
Marc Purvis - Guarantee Rate - firstname.lastname@example.org 312 523 9693
This building will not be available for FHA financing but please note that US BANK's American Dream Mortgage can be a very good source for those requiring FHA financing. Please contact Barry Merryman at email@example.com or via phone at 303.775.1303.
After buyers reserve a unit, we will convert those reservations to contracts around the same time construction starts, which right now it is estimated for January 2023. We will provide sufficient time to select any finishes and upgrades if any are offered. After contracts, buyers will need to apply and get income verified by the Affordable Program and a housing counselor will be assigned to them to assist in the process.
All information including but not limited to prices, income limits, layout, finishes, square footage, color selection, etc., subject to change as plans are still evolving.
To learn more about the Denver's Affordable Housing program, please visit their website by following this link below