In The Denver Boom, A Shortage Of Affordable Housing
The Denver economy's been growing at warp speed in recent years, but not quite everything is moving so fast—such as the development of affordable housing here. Find out more about it at our 3rd Annual Denver New Construction & Development event Oct. 19 at Marriott City Center.
Affordable housing developer SW Development Group president Scott Yeates tells us the population of rent-burdened and income-eligible households far exceeds the existing and proposed supply of income-restricted units. "For example, there are approximately 6,700 income-eligible households—demand—within a two-mile radius of our Foundry project in Englewood (below), and after the Foundry is complete there will be only 440 affordable units—supply."
Similarly, there are 4,600 income-eligible households within the Highlands/Sloan’s/Jefferson Park area, and after SloHi Flats is delivered, there will only be 150 affordable units. "Employment and the resulting population growth is phenomenal for metro Denver, but this unprecedented population growth has created a glut of affordable housing demand as the financial resources haven't been able to keep pace," Scott says.
Hear more from Scott and our other speakers, including Mayor Michael Hancock, at the 3rd annual Denver New Construction & Development event, beginning at 7:30am Oct. 19 at Marriott City Center.