A groundbreaking event was held Wednesday for an affordable rental development at 3390 West Alameda Avenue in Denver.
Westwood Crossing will offer 98 low-income and moderate-income apartments. Units will be available to households earning 60 percent or less than the median area income, according to the Denver Office of Economic Development.
The building will be four stories with commercial space on the ground level. Apartments range from one to three bedrooms and all have private balconies.
"Through projects like Westwood Crossing, the city is ensuring that hard-working families, no matter their income level, can call Denver home," Mayor Hancock said.
Westwood Crossing will span about two acres. The project is being developed by McDermott Properties, LLC.
The development is one of the first developments funded partly through Denver’s Revolving Affordable Housing Loan Fund. The Denver Office of Economic Development gave $1 million in financing from the fund to help support the development. The loan guarantees the apartments will be affordable for at least 30 years.
Westwood Crossing is one of 13 projects the Denver Office of Economic Development is funding. The projects will provide about 1,300 units for people with varying incomes.