In a move to tackle the affordable housing crunch, Denver has opened doors to the new Villas at Stone Trace in Green Valley Ranch. With a focus on larger living spaces, this 119-unit community aims to be an accessible option for those struggling with the city's high living costs. Villas at Stone Trace features two- and three-bedroom apartments, each complete with attached garages, catering not just to singles but also to families yearning for affordable stability.
Mayor Mike Johnston, in a statement this Wednesday, shared his enthusiasm for the progress, "We are very thrilled to bring more of the critical affordable housing we need to Denver. Every project is a step closer to a Denver where everyone has a safe place to live and a fair chance to thrive," according to the City of Denver. Echoing the city's commitment, he mentioned the Affordable Denver ballot initiative, which seeks further funding for affordable housing and is slated for voter decision come fall.
The development at 5800 Tower Road #1601 received financial backing from the City of Denver's Department of Housing Stability (HOST) to the tune of $1,168,000. The Colorado Housing and Finance Authority also played a role, stressing the joint efforts to bring this project to fruition. All apartments within this community are reserved for households that earn between 30 and 70 percent of the area median income, ensuring a demographic that often finds itself priced out of urban landscapes has a place at the table.
Councilwoman Stacie Gilmore welcomes the influx of new residents to District 11, looking forward to the enrichment of her constituency. "We are happy to welcome our new neighbors into District 11," Gilmore said, as per the City of Denver. The excitement is palpable as Villas at Stone Trace is poised to deliver value beyond just housing, its proximity to transit and amenities, including lush parks and winding trails, is anticipated to inject a dose of vitality and healthier living options for the community's newest inhabitants.
