Denver Housing Authority’s Sun Valley Redevelopment (Owner’s Rep)

Transformation of Denver Housing Authority’s 333-unit Sun Valley Homes into a mixed-income neighborhood that, at build-out, will total over 1,700 new residential units, more than 35% of which will be deed restricted as affordable. Originally built in the 1950’s, the Sun Valley neighborhood was home to some of Denver’s lowest income residents, living in obsolete public housing units, and cut off from surrounding areas by the Platte River and a disconnected street grid. The project restores the historic street grid, updates sitewide infrastructure, adds tree-lined sidewalks, over 4.5-acres of parks and open space, introduces a variety of commercial spaces, and a mix of market rate and affordable units.
EFG-Denver currently serves as owner’s representative for the Denver Housing Authority’s redevelopment of Denver’s Sun Valley neighborhood – a 40+ acre assemblage along Denver’s Platte River totaling more than 1,300 new residential unit and more than 15,000 SF of neighborhood-serving ground floor commercial space. In addition to two blocks of mixed-income DHA housing, three blocks are currently under contract for development by private developers. The result is a dynamic mix of unit sizes, types, and income levels:

EFG’s work for the Authority includes the creation of tax increment financing and general improvement districts to leverage market rate development to finance public infrastructure and facilitate discounted land sales to support low-income and workforce housing projects. The result is a mixed-income neighborhood that is 34% deed restricted affordable. In addition to public financing, EFG has managed entitlements (transportation engineering plans, subdivision plats, development agreements, etc.) for the Authority, assisted with the sale of market rate parcels, and managed the design and construction of more than $30M of public infrastructure. EFG is currently managing construction of the Joli (9% LIHTC and NMTC supported mixed-income family housing) and Flo (4% LIHTC senior affordable) residential developments for DHA.

SUN VALLEY

Size:
20 acres

Former Use:
333-unit public housing project built in the 1950s.

Redeveloped Use:
Mixed-use neighborhood that will total roughly 1,700 units and be 35% affordable once complete.

Accomplishments:

  • Project still in progress.

Partners:

Sun Valley, looking east at twilight