On April 19, Denver’s Safety, Housing, Education and Homelessness Committee tentatively agreed to loan $1.25 million to a developer that plans to build 50 new units of affordable housing for seniors in the city’s Central Park neighborhood. Groundbreaking would take place in July 2023, and tenants could begin to move in in early 2024, the Denver Voice reports. The loan by the city must also be approved by the full City Council before it is finalized.
The St. Stephens project is being proposed at a time when many seniors in Denver are facing an increased risk of losing their homes. According to data from the Metro Denver Homeless Initiative, older women are the fastest-growing subpopulation of people experiencing homelessness in Denver.
Jamie Rife, MDHI’s executive director, told the city council on April 12 that more seniors are becoming homeless because inflation and the rising cost of living are significantly impacting people on fixed incomes.
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