Denver new construction offers a lesson in affordable housing financing

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Mercy Housing Mountain Plains has developed The Rose on Colfax, a mixed-use affordable housing project in Denver, featuring 82 units and a childcare facility for 48 children. The project, costing over $32 million, faced challenges due to the pandemic and rising costs, including a 10-15% increase in materials and labor. Funded through various sources, including LIHTCs and city support, it aims to provide safe housing for low-income residents. The property will maintain affordability for 99 years, addressing the critical need for affordable housing in the area.

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