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Sherman Associates to Develop 100+ Units of Affordable Housing in Downtown Denver

Golden Triangle Creative District Collaboration with Denver Housing Authority

DENVER, CO, Nov. 28, 2023—Sherman Associates will develop approximately 132 affordable housing units at 1139 Delaware Street located in the Golden Triangle Creative District in downtown Denver. Sherman was awarded the development by site owner, the Denver Housing Authority (DHA) as part of their D3 Permanent Supportive Housing (PSH) program.

Eighty of the units planned will offer supporting housing services provided by Family Tree, Inc. for individuals and families transitioning out of homelessness. Fifty-two units will be affordable with rents at 60% of the Area Median Income.  The proposed development features a variety of floorplans and includes studios and up to 3-bedroom units. Palace Construction will serve as general contractor and KTGY Architects will provide architectural services focused on trauma-informed design that prioritizes creating a sense of physical and emotional safety throughout the building.

According to Erin Clark, Chief Real Estate Investment Officer, “These parcels have remained special to DHA as an opportunity for high-quality and deeply affordable housing in a neighborhood like the Golden Triangle community that is rich with the types of cultural and open space amenities that add to everyone’s quality of life, regardless of income level.”

Initial apartment development plans include on-site parking and amenities such as maker’s space, bike storage, meeting rooms, and a community garden. Sherman possesses extensive affordable housing and supportive housing development experience.  The success of each development is grounded in Sherman’s ability to respond to community stakeholders in envisioning, constructing, and operating these developments. “The Sherman team is grateful for this opportunity to partner with the Denver Housing Authority to deliver a critically important affordable housing project for the City of Denver,” says Dan Collison, Senior Director of Business Development & Public Affairs for Sherman. “We are also deeply committed to robust community engagement that fosters open dialogue, collaboration and transparency with residents, stakeholders, and community organizations in the Golden Triangle area.”

After incorporating meaningful community feedback and insight into the development and construction plans, the project could break ground as soon as Spring 2025 with an anticipated completion and grand opening in Fall of 2026.

Backgrounders:

Sherman Associates (www.Sherman-Associates.com) is a growing commercial real estate development and management firm based in Minneapolis with properties throughout the Midwest and Colorado.  Sherman has developed over 8,000 multifamily units, 600,000 sf of commercial space, four hotels, two solar gardens, and has two Starbucks locations.  Sherman develops, holds and operates its assets with a long-term vision to build neighborhoods, enrich communities, and empower people.

Denver Housing Authority (www.denverhousing.org) DHA’s mission is to serve the residents of Denver by developing, owning, and operating safe, decent, and affordable housing in a manner that promotes thriving communities. It is a quasi-municipal corporation with a portfolio of over 13,000 units and housing choice vouchers, providing affordable housing to more than 27,000 very low, low, and middle-income individuals. DHA has been creating vibrant communities and sustainable neighborhoods since 1938.

Family Tree, Inc. (www.thefamilytree.org) Family Tree is a non-profit human services agency providing innovative, life-changing services designed to end child abuse, domestic violence and homelessness.

“As we’ve been rooted in the metro Denver community since 1976, we recognize the intersection among child abuse, domestic violence, and homelessness. And, based on our expertise, we change how individuals, families, and communities see, respond to, and overcome these challenges.”