DENVER, CO – Pinkard Construction Company is currently underway on Denver Housing Authority’s new ground-up mixed-use senior housing development on West Colfax Avenue between Perry Street and North Quitman Street near Sloans Lake. The development will include 176 units of senior housing, a health clinic, and an adult day center.
VIDA replaces a used car lot, a small retail building, and a former dormitory building along Colfax Avenue between Perry and Quitman streets. Construction cost is approximately $39.5 million.
The development is programed to create a vibrant community focused on healthcare services, healthy food and lifestyles, and senior services that allow seniors to age in place. It is anticipated that a healthcare provider that will operate a clinic on the first floor, and the second floor will be entirely programed as a health focused adult day center, potentially including a food delivery hub/farmers market, cafeteria, fitness program, and an ADA accessible community garden on an outdoor terrace.
VIDA furthers DHA’s commitment to exceptional energy efficiency, utilization of renewable energy resources, and creating healthy, safe living environments while playing an important role in the revitalization of Colfax Street and the adjacent St. Anthony’s redevelopment.
The project is part of a large initiative representing a shift in philosophy and approach by the Authority to bring the for-profit sectors into partnership with the Authority and to provide an opportunity for the Authority to leverage its resources to provide capital improvements required for the development effort on each respective phase.
To get the project off the ground, DHA has patched together a financing plan with both 4 percent and 9 percent federal tax credits. DHA is also seeking New Markets Tax Credits, and will fund public improvements with TIF money provided by the Denver Urban Renewal Authority.
Parikh Stevens Architects is the architect of record. Formed in 1992, Parikh Stevens is a regional firm that specializes in residential architecture, urban planning and interior design, but is best known for multifamily housing work.
Pinkard Construction Co. is the Colorado leader in construction management services for affordable housing/Low Income Housing Tax Credits. Since 1962 Pinkard has provided construction management and general contracting services for 51 HUD/LIHTC projects totaling approximately 5,000,000 square feet.