CENTRAL PARK CONDOMINIUMS

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CONSTRUCTION HAS STARTED.  Estimated Delivery Q2 - 2024

 

All units are priced at $227,500 (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 -- NEW HOUSING LIMITS as of 6/15/2023 - Household of 1 min: $43,450, max: $66,300. Household of 2: min: $49,650, max: $75,750. Household of 3 min:  $55,850, max: $85,200. Household of 4 - min: $62,050 max: 94,650.  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

Site plans below are separated by floors, 1st, 2nd and 3rd.  Click on the floor you want and that level plan will come up.  Units reserved will show as "not available".  Units still available to reserve will display their respective floor plan once clicked.  Each unit is numbered followed by a letter - "L" or "D" which references the flooring color in the main living area - "L" for Light and "D" for Dark. 

 

An initial $500.00 refundable deposit is required to reserve a unit along with a lender letter and a reservation form. (Click below for on line reservation form). Personal checks, cashier checks or money orders made payable to First American Title can be delivered to their Denver location at 155 Madison Street, Suite 155.  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.  At contract time, there is a remaining $1,750.00 due to complete a total of 1% of the purchase price as earnest money.

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:

 

Evan Jansen - Summit Mortgage  - ejansen@summit-mortgage.com  - 303 885 9662

Lori Graham – Mortgage Navigators – lorig@mtgnavigators.com – 303 249 2728

Sandy Levy – Universal Lending – slevy@ulhomeloans.com – 303 759-7402

Craig Moore – Megastar Financial – cmoore@megastarfinancial.com – 303 914 1302

Marc Purvis - Guarantee Rate - marc.purvis@grarate.com  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 resource for those requiring FHA financing.  Please contact Erik Venning at erik.venning@usbank.com or via phone at 480.861.4288.

After buyers reserve a unit, we will convert those reservations to contracts soon after.  We will provide sufficient time to select any finishes and upgrades if any are still being offered at that time.  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

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