Archway Housing Breaks New Ground in Colorado
Archway Housing and Services/Archway Investment Corporation recently broke ground on 40 West Residences, a new affordable housing development located in Lakewood, Colorado.
Located near the “gateway” to Lakewood, 40 West Residences is sited on the busiest transit corridor in Colorado, Colfax Avenue and is a half-mile from the Lamar Street Station and the W-Line, connecting Lakewood to Denver.
This innovative project will serve persons and couples with a range of incomes, including veterans with low and very low incomes, a critically underserved population in the Denver Metro area.
“We are happy to have formed the many partnerships it takes to provide homes for those in need of affordable housing. It’s exciting to see what can happen when a caring community joins forces to address the needs of Veterans and other singles and couples’ households who are income eligible,” says Joyce Alms-Ransford, executive director of Archway Housing & Services, Inc. and Archway Investment Corporation, Inc.
40 West Residences will be a four story, 46,663 square-foot building comprised of 54 one bedrooms and 6 two bedrooms. Twenty-five of those units are set aside for homeless veterans and one two-bedroom unit will be set aside for the property manager.
In partnership with the US Department of Veteran Affairs – VA Eastern Colorado, the Colorado Division of Housing and HUD, Archway was awarded 25 project-based VASH Vouchers to serve veterans who are homeless. Jefferson Center for Mental Health, the VA, and Rocky Mountain Human Services will provide supportive services, assisting veterans in stabilizing their lives, including access to employment placement programs. Other households can access services if they are in need, however, the remaining residents will be comprised from the general public, who may have no other needs except a decent, safe and affordable place to live.
40 West Residences was designed by VTBS Architects and the general contractor for the project is JHL Constructors.
The total development cost of 40 West Residences is $15 million. In July 2015, the Colorado Housing and Finance Authority awarded tax credits to the 40 West Residences development. Other funders include Lakewood-Jefferson County Home Consortium, the Colorado Division of Housing, the Federal Home Loan Bank – Topeka, The Home Depot Foundation, and Northrop-Grumman/Local Initiatives Support Corporation. Archway’s development partners are National Equity Funds (NEF), BBVA Compass Banks, FirstBank, Metro West Housing Solutions, and Mile High Community Loan Fund. The Council for Health & Human Service Ministries, UCC (CHHSM) and Urban Lights will provide donated or discounted goods and services.
Other supporters include Rocky Mountain Conference United Church of Christ, West Colfax Community Association, Two Creeks Neighborhood Association, 40 West Arts District, and the Lakewood-West Colfax Business Improvement District.
About Archway Housing & Services and Archway Investment Corporation:
Archway Housing & Services, Inc. is a faith-based non-profit with origins in the United Church of Christ and has developed affordable housing with supportive services in Metro Denver, for over 20 years. Formed in 1995, Archway has six affordable housing communities: Arapahoe Green in Unincorporated Arapahoe County, Foothills Green in Lakewood, Willow Green and Sheridan Ridge in Arvada, Cornerstone Residences at St. Francis Center in Denver and Greenleaf Apartments in Aurora. In 2012, Archway Investment Corporation, Inc. was formed to focus on Housing Development activities, leaving the functions of Property Management and Resident Services in place with Archway Housing & Services, Inc. By integrating housing and supportive Family Services, Archway Housing is helping families and individuals to improve their economic and social wellbeing. Visit www.archwayhousing.org for more information.
For more information, please contact Teresa Vaughn, development officer at Archway Housing & Services, Inc., 303-831-9596 or Joyce Alms-Ransford, executive director also at Archway Housing & Services/Archway Investment Corp., 303-561-1870.
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