Denver, Partners Celebrate New Affordable Units in Green Valley Ranch

Denver, Partners Celebrate New Affordable Units in Green Valley Ranch

Published on August 29, 2024

Denver's Department of Housing Stability (HOST), partners from Envolve Communities, and community members celebrated today the grand opening of Villas at Stone Trace, a 119-unit affordable community. Villas at Stone Trace brings more larger units to Denver's affordable housing stock, with two- and three-bedroom options, as well as attached garages.

"We are very thrilled to bring more of the critical affordable housing we need to Denver. Every project is a step closer to a Denver where everyone has a safe place to live and a fair chance to thrive," said Mayor Mike Johnston. "The city is working harder than ever to close the affordable housing gap, and we're grateful for our development and community partners working to bring housing online as quickly as possible. As we look to continue to expand affordable housing in our city, we're thankful that City Council has referred the Affordable Denver ballot initiative for voters to weigh in on new funding to meet our affordable housing need this fall."

HOST provided $1,168,000 in funding for the project, located at 5800 Tower Road #1601 in far northeast Denver. Other public finance partners include the Colorado Housing and Finance Authority. All units at the new community are income restricted for households earning between 30 and 70 percent of the area median income.

"We are happy to welcome our new neighbors into District 11," said Councilwoman Stacie Gilmore. "The Villas at Stone Trace will provide important affordable housing close to transit and amenities, including beautiful parks and trails that support a healthy lifestyle for new members of our community."

Villas at Stone Trace adds affordable units that are critically needed in Denver. A total of 2,042 affordable units that have received city financing are currently under construction/preservation at 25 sites throughout Denver. An additional 456 income-restricted units are in the planning stage. Learn more about this inventory at the Denver Affordable Housing Dashboard

• Housing Stability