A new affordable condo project in Denver’s Five Points neighborhood is giving priority to buyers with ties to the area. The project, located at 29th and Welton Street, will provide much-needed housing in an area that has seen rising property prices and gentrification in recent years. The project will transform a parking lot into a residential development, offering affordable options for those looking to buy a home in the area.
Buyers who have ties to the Five Points neighborhood, such as living or working in the area, will have priority in purchasing the condos. This prioritization is aimed at supporting long-time residents and preventing displacement in the community. The condos will be priced below market rate, making them accessible to a wider range of buyers in an area where housing costs have been on the rise.
The affordable condo project is part of ongoing efforts to address the affordable housing crisis in Denver. With rising property prices and limited inventory, many residents are struggling to find housing that is within their budget. By offering affordable options in a desirable neighborhood like Five Points, the project aims to provide a solution for those looking to buy a home in the city.
Overall, the new affordable condo project in Five Points is a positive development for the neighborhood, providing much-needed housing options and prioritizing buyers with ties to the community. As construction begins on the project, it is expected to make a significant impact on the local housing market and provide a model for future affordable housing initiatives in Denver.
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