Koelbel and Co., in partnership with Mile High Development and Longs Peak Advisors, recently completed 8877 Eaton St., 118 affordable housing units in the Downtown Westminster redevelopment of the old Westminster Mall. OZ Architecture designed the project, which Milender White began building in January 2018.
“The completion of affordable housing at Eaton Street is an integral step in creating a vibrant downtown community in Westminster,” said Koelbel and Co. Vice President Carl Koelbel. “These residents will enjoy a lively, walkable community in the midst of new retail, commercial and residential development right between Denver and Boulder.”
Eaton Street will provide an amenity-rich community complete with a rooftop patio, community room, and fitness center.
These affordable units in Eaton are exclusively available to residents earning 50% to 60% of area median income – and some residents earning 30% AMI, thanks to a partnership with Family Tree.
Asked if an affordable project differs from a market-rate project, Milender White’s Darren Hinton said there is very little difference.
“Through preconstruction, every project has a budget that allows the project to move forward,” said Hinton, Milender White construction executive, and senior vice president. “Our role is to work with the owner and architect to maximize the design to produce the highest-quality building for the target budget. If there were any difference, it would be helping the owners on affordable projects with the reporting, documenting and submittals required for affordable project financing...
Read the full article on the Colorado Real Estate Journal