The long-vacant stretch of East Colfax Avenue at 8315 and 1500 Valentia Street just got a concrete lifeline. City officials have officially approved a $15 million bond package to fund the construction of affordable housing on this critical corridor.
This funding unlocks the door for Mercy Housing Mountain Plains to move forward with a project that addresses a severe shortage of low-cost units in a neighborhood defined by high transit access but limited options for working families. The resolution, adopted on February 8, 2021, designates the revenue bonds specifically for the development at 8315 East Colfax Avenue.
By channeling these funds into the property at 8315 E. Colfax Ave (ZIP 80210) and the adjacent 1500 Valentia Street parcel, the city aims to transform underutilized land into permanent housing. The project falls under Council District 8, where residents have long advocated for development that prioritizes affordability over market-rate luxury.
This approval marks a significant step in Denver's broader strategy to densify along major transit lines like Colfax while ensuring those new units remain accessible to lower-income residents. The bond issuance provides the necessary capital bridge to begin the physical construction phase, moving the site from a planning concept to a built reality.
Citizens wishing to track the progress of this development or attend related public meetings can visit Denver City Hall. Further details on the legislative history and upcoming hearings are available through the city's official portal: Denver City Council Legislation Detail.