Denver Mayor Mike Johnston, alongside various partners including the Department of Housing Stability (HOST), celebrated the groundbreaking of The Hattie McDaniel, an affordable condo development in Five Points. According to the City and County of Denver, this project aims to tackle the issue of housing affordability, providing 62 condos with a mix of one to three bedrooms, designed to be accessible for individuals with mobility and sensory impairments.
As obtained by the City and County of Denver, the mayor emphasized the importance of affordable home ownership in Denver, declaring, "We cannot allow Denver to become a city where only the wealthy can afford to own a home." Echoing this sentiment, City Councilmember Darrell Watson shared, "I’m thrilled to have more opportunities for folks to purchase homes in Five Points, as homeownership is the fastest way to build generational wealth." These units will serve households earning at or below 80 percent of the area median income, opening doors to ownership for many who would otherwise be priced out of the market.
HOST and RTD have worked in concert for several years to develop income-restricted housing on what used to be an RTD parking lot. RTD General Manager and CEO, Debra Johnson, noted in a statement that the project is a "representative example of how working collaboratively can bring about affordable housing projects," also underlining RTD's engagement with the region's housing challenges. The site was sold at a discounted rate of $1.5 million to facilitate the creation of these affordable units.
The historic significance of the community is highlighted in the condo development's namesake, Hattie McDaniel, the first African American Oscar winner, who also has deep roots in Denver. As per the City and County of Denver, to create a lasting community impact, Stefka Fanchi, CEO of ECLT, said, "Our goal is to create homes that allow families with historical ties to the community to return and become part of the neighborhood's fabric again." The completion of The Hattie McDaniel will increase Denver's inventory of income-restricted housing, which currently represents about 7.5 percent of the city’s total housing units.
For a detailed look at Denver’s inventory of income-restricted housing, which includes over 2,500 homeownership units and over 25,000 income-restricted rental units, interested parties can visit the Denver Affordable Housing Dashboard.
