Property Type: Affordable/Multifamily
In 2014, St. Charles purchased two blighted mobile home parks on 4.5 acres of land bisected by Morrison Road in Denver’s Westwood neighborhood. After a complicated four-year effort to secure the property, St. Charles financed the 197-unit apartment project through Gardner Capital, CREA, LLC, Citibank, the Colorado Department of Local Affairs, and the City and County of Denver’s Office of Economic Development. Additionally, federal and state housing tax credits were allocated by Colorado Housing and Financing Authority to provide tax-exempt bond financing. The Del Corazon apartment community was completed in Spring 2018, creating a new ‘heart’ of the Westwood Neighborhood. The $41 million community is a now an entertainment hub and a centerpiece to a growing cultural district that celebrates the Westwood neighborhood and its vibrant heritage.