Construction of Thrive has been completed by Pinkard Construction, a leading builder of multifamily housing in Colorado. The Denver Housing Authority (DHA) planned the neighbourhood, which Shopworks Architecture created. It is located on W. Holden Place, in the centre of the Sun Valley neighbourhood, between I-25 and Federal Blvd.
The 135 unit Thrive development contains two story townhomes and one- to five-bedroom multifamily units. 54% of those units are accessible to those making less than 60% of Denver’s Area Median Income. Podium slab and two storeys of structural concrete are all implemented into the structure. Additionally, levels three through seven of fire treated wood. A huge lobby, a basketball court, a game room, a playground, a community kitchen, and other amenities are available.
Funding for the Thrive multifamily project in Colorado
Low-income housing tax credits, tax-exempt bonds, and DHA funding were used to fund the project. Additionally, a loan from the Colorado Housing and Finance Authority. Further, the approximate $44 million development cost was paid in full.
David Nisivoccia, chief executive officer of DHA, said, “We are happy to partner with Pinkard Construction and Shopworks Architecture on this significant project. Further, it will offer families and individuals in Denver safe and affordable homes. ” In addition, it is an example of how we can use innovative financing and public-private partnerships to create more housing opportunities for our community.”
“Pinkard Construction has a long history of building affordable housing in Colorado, and we are committed to delivering high-quality projects that help fill the low cost housing shortage in Denver,” said Tony Burke, president of Pinkard Construction. “A tribute to the creativity and teamwork of DHA and Shopworks Architecture, Thrive is a stunning addition to the neighbourhood.”
According to Shopworks Architecture, a Denver-based company that specialises in designing affordable housing, Thrive fosters a feeling of community and ties between inhabitants and the area. According to Kyle Mead, project manager for Shopworks Architecture, ” it will play a pivotal role in the redevelopment of this historic area and the families who live there.”