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    Affordable Housing Project to Break Ground in Downtown Westminster

    9/11/2017
    Five-story Eaton Street Apartments will house 118 units
     
    The City of Westminster is making good on its promise to add more affordable housing with its latest project in Downtown Westminster. The city of 113,000 has announced they are working with Mile High Development, Koelbel and Company, and Longs Peak Advisors to build Eaton Street Apartments – a five-story mixed-use project that will house 118 affordable housing units.

    The building will wrap the north and east sides of the recently completed parking garage in Downtown Westminster, the city’s high-density, mixed-use redevelopment of the former Westminster Mall site.

    “These units will serve residents earning 60% or less of the area median income, or approximately $50,000 annually for a household of four,” said Sarah Nurmela, Downtown Westminster Real Estate and Development Manager. “This project serves a larger goal of ensuring that Downtown Westminster is inclusive and meets the needs of the entire community.”

    Designed by OZ Architects, the project will have four stories of residential units over a ground floor common area and townhomes, as well as 22,000 square feet of retail along Eaton Street and 89th Avenue. The project is slated to be complete in late 2018. Located in the heart of the Downtown, planned uses adjacent to the Eaton Street Apartments include residential apartments and office space, along with restaurants and retail.

    Additionally the Eaton Street Apartment meet Colorado Housing and Finance Authority’s (CHFA) guiding principle of providing affordable housing near transit; the project is located less than a five-minute walk to the RTD Sheridan bus and BRT station with 500 buses a day. The city is committed to completing a pedestrian underpass by 2019 that will make the transit station even more accessible.


    “Over our thirty-five year history in working with municipalities in creating mixed-use, public private developments, this project in Westminster’s’ new downtown development sets a high bar for public/private developments in Colorado,” said George Thorn, President and Founder of Mile High Development.

    “The City’s team, led by Mayor Herb Atchison and City Manager Don Tripp, Deputy City Manager Jody Andrews, and the project team of Sarah Nurmela and John Burke have made it possible for Mile High Development, Koelbel and Company and Longs Peak advisors to produce this unique, first-of-its-kind, affordable housing project wrapping a large municipal garage,” said Thorn. “We owe a special thanks to CHFA, the Colorado Division of Housing, Jefferson County, the Jefferson County Housing Authority and our lenders and development team to bring this highly complex project to Downtown Westminster.”

    Carol Koelbel, VP of Koelbel and Company echoed similar sentiments. “We are thrilled to be a part of Eaton Street Apartments,” said, Koelbel. “The City of Westminster has put forth a grand vision for the Downtown Westminster development and we give them great kudos for putting affordable housing as one of the cornerstones of their plan.”

    Added John J. Huggins, Principal of Longs Peak Advisors, "We are thrilled to be part of this path-breaking redevelopment. The City of Westminster has a bold vision for its new downtown, and we are very happy to be a part of that vision.”

    Mile High Development has been developing in Colorado for over 40 years, and has been involved in some of the most significant and complex public/private partnerships during that time frame, including the Wellington E. Webb Municipal Office Building; the Co-development at the Denver Art Museum and Lakewood City Commons.
     
    Koelbel and Company has been developing in the Denver Metro area for over 65 years and has worked with Mile High Development in the past to complete four affordable housing projects in the Denver Metro area: Apartments at Yale Station in 2011, University Station Apartments in 2013, Garden Court Apartments in 2016 and Ash Street Apartments opening this year. Koelbel and Company has also recently developed two additional affordable housing deals in Boulder totaling 130 units.
     
    At full build-out Downtown Westminster will be home to 2,300 residential units and over 4,500 residents; over two million square feet of collaborative and Class A office space, and 700,000 square feet of retail space, and 300 hotel rooms, with almost 10,000 workers on site. 
Westminster Colorado Economic Development Office 4800 West 92nd Avenue Westminster, CO 80031