Sherman Associates, a growing commercial real estate development and management firm, will develop approximately 132 affordable housing units at 1139 Delaware Street in downtown Denver’s Golden Triangle Creative District. Sherman was awarded the development by the site owner, the Denver Housing Authority (DHA), as part of their D3 Permanent Supportive Housing (PSH) program.
Eighty of the units planned will offer supporting housing services provided by Family Tree, Inc. for individuals and families transitioning out of homelessness. Fifty-two units will be affordable with rents at 60% of the area median income. The proposed development features a variety of floorplans and includes studios and up to 3-bedroom units. Palace Construction will serve as general contractor and national architecture firm KTGY will provide architectural services focused on trauma-informed design that prioritizes creating a sense of physical and emotional safety throughout the building.
According to Erin Clark, chief real estate investment officer, “These parcels have remained special to DHA as an opportunity for high-quality and deeply affordable housing in a neighborhood like the Golden Triangle community that is rich with the types of cultural and open space amenities that add to everyone’s quality of life, regardless of income level.”
Initial apartment development plans include on-site parking and amenities such as a maker’s space, bike storage, meeting rooms, and a community garden. Sherman possesses extensive affordable housing and supportive housing development experience. The success of each development is grounded in Sherman’s ability to respond to community stakeholders in envisioning, constructing, and operating these developments. “The Sherman team is grateful for this opportunity to partner with the Denver Housing Authority to deliver a critically important affordable housing project for the City of Denver,” says Dan Collison, senior director of business development & public affairs for Sherman. “We are also deeply committed to robust community engagement that fosters open dialogue, collaboration and transparency with residents, stakeholders, and community organizations in the Golden Triangle area.”
After incorporating meaningful community feedback and insight into the development and construction plans, the project could break ground as soon as spring 2025 with an anticipated completion and grand opening in the fall of 2026.
