The 14-story brick high-rise looming over the 1700 block of South Federal Boulevard houses more than just 170 apartments; it anchors a fragile lifeline for Denver's seniors and residents with disabilities.
On February 28, the Denver City Council voted to approve a $10 million loan to the current owners, Columbine Towers Owner LLC, ensuring these units stay affordable rather than flipping to market rates. This financial intervention comes just weeks after the property changed hands for $34 million, a transaction that valued each unit at roughly $200,000.
Located at 1750 S. Federal Boulevard in the West Denver corridor, Columbine Towers has recently been sold, raising concerns among advocates that the new ownership might prioritize profit over the building's social mission. The city's loan acts as a preservation tool, locking in the existing affordability covenants and preventing the displacement of vulnerable tenants. Without this public funding, the 170-unit complex could have quickly vanished from the city's affordable housing inventory.
This move fits into a broader citywide strategy to create nearly 44,000 affordable units over the next decade. As West Denver continues to densify, preserving existing stock often proves cheaper and faster than new construction. The council's decision signals a shift from simply building new units to actively defending the ones that already exist in neighborhoods like the one surrounding Federal Boulevard.
Residents wishing to follow the implementation of this loan or attend future meetings regarding affordable housing preservation can visit Denver City Hall. Additional details on the legislation are available through the city's legislative portal at denver.legistar.com.