Yesterday marked the grand opening of the Garden Court Apartments at Yale Station. The 66-units of affordable housing were jointly developed by Mile High Development and Koelbel and Company with land originally acquired by Urban Land Conservancy. Taylor Kohrs was the general contractor who constructed this beautiful new building.
The apartments consists of 1, 2 and 3 bedroom options, each with their own balcony and a full set of appliances including a washer and dryer. Garden Court boasts an array of amenities, including an entertainment and computer center, indoor bike storage, a fitness center and an outdoor community garden dedicated to ULC past Board member Jamie Fitzpatrick.
Arguably the most impressive perk residents receive while living at Garden Court is the RTD EcoPass granted to each apartment. This move signifies true household affordability, as transportation costs add a significant expense for individuals and families. Accessing public transit with the provided EcoPass allows residents to use resources for other needed services, education and childcare as well as healthy related activities.
The apartments sit on a 1.5 acre parcel directly adjacent to the Yale light rail station. The land was originally purchased by the Urban Land Conservancy in 2010 using the Transit Oriented Development (TOD) Fund in order to ensure that affordable housing would be developed at this station. George Thorn, the President and Founder of Mile High Development, spoke during the grand opening about the vast need and opportunity for more affordable housing construction to take place in Denver. He explained that his company has been in the affordable housing development sector for 8 years now, and Garden Court marks their third completed project.
“We can do a lot more affordable housing here, and that is what we intend to do,” Thorn said.
ULC’s President and CEO Aaron Miripol and the Vice President of Real Estate Debra Bustos were recognized for their efforts in securing the land using the TOD fund. They were both acknowledged for their vision and tenacity in ensuring that the Garden Court Apartments became a reality. A major player in turning the development into a reality was Buz Koelbel, the President and CEO of Koelbel and Company. Koelbel spoke to the importance of affordable living in Denver, and how important this has become to his company.
“This is bigger than a real estate project, this is about community,” Koelbel said.
The completion of 66 units of affordable housing at a rail station demonstrates the TOD Fund’s success is preserving the future affordability of developments that benefit low income residents in Denver. It was clear from each speaker during yesterday’s grand opening that affordable housing is vital towards keeping Denver inclusive for all of its residents. Denver Councilwoman Kendra Black highlighted this importance during the celebration.
“Affordable housing is a top priority for all of Denver City Council,” she stated.