A lower-income neighborhood in Denver may soon see a sweeping variety of infrastructure improvements owing to the infusion of up to $10.3 million in tax increment financing.
The Sun Valley neighborhood is in the central part of the city and bordered by Federal Boulevard on the west and the South Platte River on the east. Part of the neighborhood takes in a portion of the Denver Broncos’ stadium.
The neighborhood has long been dominated by an aging housing stock and poverty. A study conducted three years ago by the Piton Foundation pegged the neighborhood’s average household income at just over $14,000.
Now hopes are high that a tax increment agreement between the City and County of Denver, along with the Denver Urban Renewal Authority, will enhance everyday living in a 35-acre portion of the neighborhood via new residential units, parks, sidewalks, and streets.
Houses planned for the neighborhood will range in size from one- to five-bedroom units and will be geared for those making less than 30% of the area median income.
The new homes project, as spearheaded by the Denver Urban Renewal authority, will ultimately serve upwards of 2,500 people. Up to five new blocks will also be created, along with a riverfront park on the eastern side of the neighborhood along the South Platte River.
New construction will be seen on one-time industrial property as well as at the site of the former Sun Valley Homes, which was demolished due to its deteriorating condition in 2018. That barracks-style housing project was built in the 1950s and included more than 300 residential units.
Plans also call for the construction of 744 homes that will be built by private developers, with 514 by the Denver Housing Authority.
According to city documents, new work in the neighborhood will also see stormwater and sanitary sewer upgrades, as well as the modernization of existing rights-of-way for new pedestrian and bicycle accommodations.
By Garry Boulard
