CENTRAL PARK CONDOMINIUMS

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Estimated construction to start early 2023 and deliver early 2024

 

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. 

Scroll down for site plans, floor plans and to select a unit.

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 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.

Some of the expert lenders we have relied on in the past are:

Lori Graham – Thrive Mortgage – lori.graham@ThriveMortgage.com – 303 249 2728

Sandy Levy – Universal Landing – slevy@ulc.com – 303 759-7402

Craig Moore – Summit Funding – powersteam@summitfunding.net – 720 902 7402

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 barry.merryman@usbank.com or via phone at 303.775.1305 or Daryl Kruger at daryl.kruger@usbank.com or 303-810-1176.

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 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

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Central Park Condominiums

 

Soledad Tobar
Denver Central
(303) 887-5120  |  (303) 320-5733  |  FA.040024078 CO   |  soledad.tobar@cbrealty.com