DENVER – Pinkard Construction Company, with Denver Housing Authority (DHA), its project investors, and Parikh Stevens Architects, recently held a topping-out celebration for Vida at Sloan’s Lake, DHA’s new ground-up mixed-use senior/disabled housing development on West Colfax Avenue.
The $39.5 million construction contract, which includes 176 units for low-income seniors and disabled residents, a neighborhood health clinic, a dialysis center, and an adult activity center, has progressed on pace despite numerous early-phase unforeseen conditions that challenged the schedule and budget.
Unforeseen conditions have included various soil issues and the need for a massive dewatering effort, which has been complicated by the tight site bordered by small collector-streets. Pinkard has minimized the impacts to schedule by refining the weekly schedule/sequencing plan into 15-minute increments, which has maximized productivity and minimized site congestion.
The Vida project furthers DHA’s commitment to exceptional energy efficiency, utilization of renewable energy resources, and creating healthy, safe living environments while playing an important role in the revitalization of West Colfax and the vision for the St. Anthony’s Hospital campus redevelopment plan.
The project is part of a large initiative representing a progressive philosophy and approach by DHA to merge resources from the for-profit sectors and leverage heath-service partnerships to deliver a highly dense affordable project with wrap-around community-serving commercial amenities at the ground floor.
DHA has patched together a financing plan with both four-percent and nine-percent federal low-income housing tax credits from Colorado Housing Finance Authority (CHFA), along with New Markets Tax Credits from Corporation for Supportive Housing, and Tax Increment.
Financing provided by the Denver Urban Renewal Authority. Together with DHA’s program investments, make this $60 million total investment a reality and a model for future mixed-use affordable housing projects.
Photo courtesy of Pinkard Construction Company
