A classic 1960s high-rise apartment building with 170 residential units to the south of downtown Denver is about to undergo a major renovation as affordable housing.
Located at 1550 S. Federal Boulevard, the Columbine Towers was built in 1964 and has long served a senior residential population.
Now the Denver-based Ulysses Development Group has purchased the 14-story structure for $34 million, announcing plans to substantially renovate and upgrade it.
In a statement, Connor Larr, a partner with Ulysses, remarked that the “impact the community will feel when our rehabilitation of this property is complete will be significant. It will give seniors and those with disabilities a safe, quality, and affordable place to call home at a time when housing is at a premium.”
The project, which Ulysses is taking on in a partnership with the Housing and Urban Development Department, is expected to see upward of $9 million in improvements which will include the installation of new elevators, energy efficiency work, and accessibility conversions.
The elevator work is particularly important: in the summer of 2022, the building’s elevators were out of commission for roughly a week, forcing elderly residents to use the stairs, and resulting in at least one injury.
Members of the Denver City Council have approved a $10 million loan to fund the rehabilitation work.
By Garry Boulard
