Denver living is expanding on E. Colfax Avenue and Poplar St. A new mixed-use development is being constructed and will consist of a 60,000 square feet building. Five stories with the bottom level offering commercial and office space, the upper levels of the building will feature housing. Groundbreaking on Phoenix on the FAX, which will contain affordable Denver living space for the nearby downtown area, is partially financed by a federal subsidy.
The Denver Office of Economic Development (OED) is financing part of this project with funds from the U.S. Department of Housing and Urban Development. The OED helps to fund about 100 housing units that are sold and 250 rental units yearly. The housing is typically offered to those who meet income requirements and they are deed restricted so they will maintain the long-term affordability.
Phoenix on the FAX is the first major new Denver living space to be developed east of Monaco under the Main Street Zoning for Colfax. This zoning promotes commercial main street revitalization for the city of Denver. The director of the Denver Office of Economic Development says the OED is committed to assisting with neighborhood development in this area.
For those who enjoy Denver living, this will result in more jobs being created and the strengthening of the community. They are also looking at adding additional investments on East Colfax Avenue. In fact, they have a vision plan under development presently that is scheduled for completion in the early part of 2011.
The Community Development Block Grant funding, which is federal funding has helped support this business support office through the OED to provide the revitalization of the area of Colfax Avenue from Colorado Boulevard to Yosemite Street. Focusing on affordable downtown Denver living due to the proximity to the existing job centers at Fitzsimons Life Sciences District among others is one of the benefits.
Please contact New Era Realty to learn more about Denver living, or any of the many wonderful Denver loft and condominium offerings at (303)-522-7746 or (800)-392-1950.