The DHA Delivers for Denver (“D3”) Program is a partnership and intergovernmental agreement (IGA) between the City and County of Denver and DHA. In 2019, DHA issued a $130 million municipal bond backed by city property tax allocations that generated $120 million in revenue. The purpose of the D3 Program is to expedite a pipeline of affordable housing projects and to accomplish the goals of Denver’s Five Year Housing Plan.
Local Efforts Align With A Natural Vision Locally, DHA entered into D3 in order to support the City in its policy goals. DHA’s development directly aligns with the vision of the City’s Five Year Housing Plan. Federal agencies aim to boost the supply of quality, affordable rental units by working with state and local governments. DHA’s organizational goals are in direct alignment with this effort.
D3 FUNDING ALLOCATIONS | D3 funding was divided into two halves:
$62.5 million provides gap funding for DHA’s direct development projects. It will create 1,300 units of housing. DHA is under construction on 7 of 11 projects – 60% of the way there. We must be under construction on all DHA-led projects by 2024. DHA’s direct pipeline includes the completion of our Sun Valley redevelopment, which received a federal Choice Neighborhoods grant.
D3 Supportive Housing Projects
1394 W Alameda
Closing Fall 2021
DHA issued RFP May 2021
DHA will issue RFP in 2022/2023
3965 Fox St
4745 N Federal
Johnson & Wales
NET PROCEEDS: LAND ACQUISITION – 50.1% / $62.5M | DIRECT DEVELOPMENT – 49.9% / $62M
$62M turned into a $680M investment. With this funding, DHA was able to compress 10 years of development into 5 years. We are over halfway there and ahead of schedule!