Two aging apartment buildings at the corner of 18th and Franklin in City Park West are gone, cleared to make room for Chrysalis, a new seven‑story supportive housing complex led by Denver nonprofit The Empowerment Program. In their place, the project is set to bring about 70 deeply affordable apartments reserved for people exiting homelessness.
Demolition at 1767 and 1777 Franklin St. kicked into visible gear in early January, when crews were photographed tearing into the century‑old structures after work started late last year. Executive director Julie Kiehl said rehabbing the existing buildings was not realistic and that a ground‑up project would deliver far more homes than the roughly 20 units that previously occupied the site, according to BusinessDen.
Tax Credits, Vouchers And Services
To get Chrysalis financed, the development lined up state and federal housing tax credits totaling roughly $2.2 million, with award materials indicating it received both federal 4% and state credits to help raise equity. The same documentation shows Chrysalis will offer 70 units aimed at residents earning about 30% of the area median income, using project‑based vouchers supplied by the City of Denver’s Department of Housing Stability and the Colorado Division of Housing, according to CHFA.
Who’s Building It And The Schedule
Pinkard Construction is serving as the general contractor and held a groundbreaking in November 2025 alongside partners Radix Design and Enterprise Community Partners. The builder says the structure is being designed to Zero Energy Ready standards and will rely on a light‑gauge steel system, with construction carefully sequenced to work around the tight site, according to Pinkard.
How The Financing Stacks Up
The Empowerment Program pegs the total development cost at a little more than $36 million, backed in part by a 60‑year, interest‑free $3.2 million loan from Denver’s Homeless Resolution Fund to cover demolition and construction. Every unit in the building will be paired with a housing voucher and on‑site supports such as vocational programming and mental‑health services intended to help residents stabilize, BusinessDen reports.
Construction Impacts On Neighbors
The project site is a zero‑lot‑line infill parcel wedged next to hospitals and key emergency routes, which means crews will periodically close portions of the right of way and follow a neighborhood logistics plan to preserve ambulance access and reduce disruption. Pinkard says those limitations shaped both the order of construction and the choice of systems meant to move the schedule along while minimizing street impacts, according to Pinkard.
Where This Fits In Denver’s Housing Push
Chrysalis slots into a growing lineup of supportive and deeply affordable housing projects that Denver and local developers are using to move people out of homelessness and into more stable living situations. The project is arriving as the city navigates shifting funding priorities and concerns over how long one‑time money for shelter and services will last, with Denver leaning heavily on its Homeless Resolution Fund to finance loans, vouchers, and shelter operations, according to Colorado Politics.
