Jody Apartments is a 62-unit multifamily community built in 1968 and situated on two acres of land (88,250 sf). It is located on the edge of Denver and borders Lakewood. The Jody Apartments was acquired in December of 2007 through a partnership between ULC and NEWSED in which ULC purchased the land and NEWSED acquired the improvements.
- Total initial acquisition and rehab: $3.25 million
- ULC owns 2 acres of land; NEWSED owns and operates the apartments (under a 99-year land lease)
- 52 of the 62 apartments are permanently affordable, with 12 committed to households at (or below) 30% AMI. Four rental buildings currently serve over 100 residents.
- inspired the need for the Denver TOD Fund which was create to preserve and create affordable housing along transit corridors.
- Site assemblage totaling over four acres will accommodate future development of at least 200 more mixed income apartments & 25,000 sq. ft. of commercial/community space
Jody will be redeveloped at a higher density under Denver’s new zoning code (C-MX-8) preserving and creating permanently affordable housing in a vibrant mixed use setting. Because The Jody Apartments will be rebuilt in the immediate vicinity, residents will not be displaced and can remain in the community in which they currently live.
Jody – at the core of the 20 Minute Neighborhood
The West Corridor Working Group (WCWG), which consists of City of Lakewood, City of Denver, Denver Housing Authority, Metro West Housing Solutions, RTD, ULC and other regional partners, selected the Sheridan Station as the catalytic site on the West Line to implement a 20-Minute neighborhood concept because of its “gateway” status that connects Lakewood and Denver and its potential for job, housing and economic growth and the cross-jurisdictional collaboration opportunities.
A 20-minute neighborhood is a place with convenient, safe, and pedestrian-oriented access to essential every day services, amenities and transit, i.e, shopping, quality food, school, parks, and social activities, all reachable within 20 minutes. The 20-minute neighborhood also serves to improve neighborhood connectivity and offers a variety of transportation options (walking, rail, bicycle, etc) while utilizing existing amenities such as the Lakewood Gulch to further enhance the neighborhood.
ULC’s intention for investment along the West line is to preserve and create affordable housing opportunities and minimize transportation costs for lower income households. Funds from HUD’s Sustainable Regional Planning Grant will support efforts to complete planning, design and engineering activities related to the redevelopment of the Jody Apartments.