On November 19, Ulysses Development Group (UDG) celebrated the grand reopening of Columbine Towers, a vital low-income housing community in Denver that serves seniors and individuals with disabilities. Joining UDG for the celebration were representatives from the State of Colorado, City of Denver, the Denver Housing Authority, the Colorado Housing and Finance Authority, members from the Colorado Department of Local Affairs, and residents.
UDG acquired Columbine Towers in April 2024 through a Rental Assistance Demonstration 2nd Component (RAD 2) conversion, ensuring the property will be kept affordable for decades to come. Before UDG’s acquisition, Columbine Towers hadn’t been substantially renovated since it was built in 1964. Through the conversion, UDG invested over $9 million to modernize the elevators, upgrade all 170 units, install energy-efficient features, and enhance accessibility for the seniors and individuals with disabilities who live there.
“The culmination of our work and partnerships at Columbine Towers exemplifies UDG’s People First value in action. This preservation allows longtime residents to continue living with dignity and comfort in a place they call home. Investing in the rehabilitation of this community isn’t just about improving a building; it’s about honoring the people who bring it to life,” said Ahmed Abdelhameed, vice president, UDG.
“The preservation and grand reopening of Columbine Towers represents a vital investment in the long-term stability and dignity of Denver’s residents. Through our partnership with Ulysses Development Group, we’re ensuring that seniors and individuals with disabilities can continue to live affordably in a safe, welcoming community,” said Adam Lyons, deputy director of housing opportunities at HOST. “This project exemplifies HOST’s mission to keep Denver a place where everyone, regardless of income, has access to a quality home and the opportunity to thrive.”
The rehabilitation and long-term investment at Columbine Towers has been made possible through financing from a variety of sources:
- City and County of Denver provided $10 million through the Department of Housing Stability – City and County of Denver (HOST)
- Colorado Department of Local Affairs (DOLA) contributed $5 million
- Impact Development Fund (CDFI) contributed $4.7 million
- Bellwether, which is servicing a $27.7 million Freddie Mac loan
“Denver Housing Authority is proud to support the preservation of Columbine Towers by providing a tax exemption to ensure that residents can continue to live affordably in a modernized community that honors the building’s history and strengthens Denver’s commitment to long-term housing stability,” said Joaquín Cintrón Vega, CEO of the Denver Housing Authority. “Every tax exemption Denver Housing Authority provides unlocks long-term affordability, accelerates development, and brings us one step closer to a Denver where every neighborhood opens doors to opportunity.”
