Pinkard Construction, a leading builder of multifamily housing in Colorado, has completed the construction of Thrive. The community was developed by the Denver Housing Authority (DHA) and designed by Shopworks Architecture. It is located between I-25 and Federal Blvd on W. Holden Place in the heart of the Sun Valley neighborhood.
The 135-unit Thrive development, 54 percent of which are affordable to households earning below 60 percent of Denver’s Area Median Income, includes two-story townhomes and one- to five-bedroom multifamily units. It is constructed with a podium slab with two stories of structural concrete frame and fire-treated wood for levels three to seven. Amenities include a community kitchen, amenity deck, basketball court, game room, playground, classroom, and large lobby.
The project was financed with low-income housing tax credits, tax-exempt bonds, DHA funds, and a loan from the Colorado Housing and Finance Authority. The total development cost was approximately $44 million.
“We are proud to partner with Pinkard Construction and Shopworks Architecture on this important project that will provide safe and affordable homes for families and individuals in Denver,” said David Nisivoccia, chief executive officer of DHA. “Thrive is an example of how we can leverage public-private partnerships and innovative financing to create more housing opportunities for our community.”
Tony Burke, president of Pinkard Construction said, “Pinkard Construction has a long history of building affordable housing in Colorado, and we are committed to delivering high-quality projects that help fill the affordable housing shortage in Denver. Thrive is a beautiful addition to the neighborhood and a testament to the vision and collaboration of DHA and Shopworks Architecture.”
Shopworks Architecture, a Denver-based firm that specializes in affordable housing design, said that Thrive is designed to create a sense of community and connection among residents and with the surrounding area.
“Thrive will play a pivotal role in the redevelopment of this historic neighborhood and the families who live there,” said Kyle Mead, project manager for Shopworks Architecture. “Shopworks was honored to work with the dedicated, passionate, and talented team of Pinkard and their trade partners in order to deliver this notable project for DHA and the residents of Sun Valley.”