A former slice of Denver Health land in Green Valley Ranch is on its way to becoming a major affordable housing hub. The Denver Housing Authority (DHA) and developer Brikwell have bought 3.6 acres at 5000 Tower Road to build Green Valley Vistas, a new income-restricted community planned for 156 homes. The apartments are targeted to households earning between 30% and 80% of the area's median income, with an emphasis on family-sized units. Construction is slated to begin once the development teams lock in financing and permits.
As reported by Mile High CRE, DHA, and Brikwell describe Green Valley Vistas as two residential buildings with a slate of community amenities. Joshua Crawley, DHA’s interim chief executive officer, said the land purchase “brings Green Valley Vistas one step closer to reality for Denver families,” according to the announcement. The plans also call for a 5,700-square-foot early-childhood education center on site and a 3,500-square-foot park and playground reserved for residents.
Project size and financing tools
Brikwell lists Green Valley Vistas as a 156-unit project that will rely on federal 4% low-income housing tax credits. The Colorado Housing and Finance Authority confirms the tax credit allocation and shows a private-activity bond cap associated with the development, with Denver’s Department of Housing Stability identified as the bond issuer. These tools are standard fare for delivering deeply affordable rentals while locking in long-term affordability.
How the city and state are pitching in
The City of Denver has backed the project with a $4.75 million cash-flow loan to the Green Valley Vistas ownership entity as part of a HOST financing package, according to the City Council agenda. At the state level, the Colorado State Housing Board has committed $1.95 million in Housing Development Grant funds, a gap-filling contribution highlighted in The Badger’s recap of recent approvals.
From micro-community to permanent housing
Before the current plan took shape, the parcel at 5000 Tower Road was briefly eyed as a micro-community under Mayor Mike Johnston’s House1000 initiative, a concept the city ultimately dropped after reviewing development costs, according to local reporting. Denver7 noted that some nearby residents reacted with relief when the micro-community proposal was shelved. Mayor Johnston has since pointed to Green Valley Vistas as a way for local families to “spend more time at the park and on the playground,” a line from the project announcement covered by Mile High CRE.
Next steps and timeline
Developers say they expect to assemble the remaining financing later this year, then move into site work once permits are issued, although the schedule will ultimately depend on tax-credit closings and lender timelines. According to state records and related reporting, the target is to close the financing in early November 2026, start construction later that month, and reach lease-up in 2028, all subject to final paperwork and subsidy agreements. Project partners also report that they are lining up an operator for the early-childhood education center and finishing long-term affordability covenants ahead of breaking ground.
