Globeville Elyria-Swansea Affordable Housing Collaborative Receives $2 million from CDOT’s Central 70 Project

July 30, 2018 - $2 million Grant Program to Support Affordable Housing in Elyria-Swansea neighborhood

DENVER—Following a competitive grant process, CDOT has awarded a $2 million grant to the Globeville, Elyria-Swansea (GES) Affordable Housing Collaborative to support affordable housing in Denver's Elyria-Swansea neighborhood. Supporting the GES Affordable Housing Collaborative in these efforts are Brothers Redevelopment Group, the Globeville, Elyria-Swansea (GES) Coalition, Colorado Community Land Trust (CCLT) and the GES community.

This grant, one of the Central 70 Project's community commitments, is intended to help provide long-term affordable housing to low-income residents of Elyria-Swansea.

Central 70 Affordable Housing Collaborative

According to Nationwide Insurance, Denver ranks fifth in the nation for the steepest decline in affordability over the past year. The GES Coalition Organizing For Health And Housing Justice recently showed in a survey that within the Elyria-Swansea community, 88 percent of low-income residents are at risk of displacement, and 51 percent of renters are at very high risk of displacement due to not having a contract with the property owner.

"This funding, which is unprecedented for CDOT, follows through on a commitment we made to Elyria-Swansea," said Tony DeVito, Central 70 Project director. "As critical as Central 70 is to our state and regional transportation system, we also recognize that a construction project of this magnitude does not happen in a vacuum. There are impacts to neighborhoods and communities, and we have committed to address those impacts. The Central 70 team is absolutely thrilled to partner with the Collaborative, and we look forward to seeing this funding achieve great things in Elyria-Swansea."

The affordable housing project is expected to begin later this summer and continue through summer 2021. The partners define affordable housing as housing that is affordable to those with a household income equal to or less than 80 percent of the Area Mean Income (AMI). The grant aims to serve the most vulnerable residents (those earning between 30 percent and 60 percent of the AMI) who find it more difficult to obtain a fixed-rate mortgage. Through CDOT's housing-mitigation funding and leveraged dollars, the GES Affordable Housing Collaborative have made these commitments:

  • Provide local education opportunities, financial counseling and other training to prepare residents for home ownership.
  • Identify, train and place qualified GES residents through a fair process to attain affordable housing, with a goal to assist renters in transitioning to home ownership.
  • Create new—and preserve—affordable housing units in Elyria-Swansea.
  • Preserve existing affordable housing by rehabbing the homes or rental units of owners who agree to maintain long-term affordability.
  • Reduce long-term operating costs by providing energy-efficient and water-conserving features.

The GES Affordable Housing Collaborative has enabled three organizations to bring their strengths to the table. The team has deep roots in the community, experience in Community Land Trusts, and overall affordable housing development and supportive-service expertise and track record.

"On behalf of the GES Affordable Housing Coalition, we are honored to accept this grant award that we will use to preserve, protect and promote affordable housing options for the proud residents in the Elyria Swansea neighborhood," said Jeff Martinez, president of Brothers Redevelopment. "Building on our initial investments, we intend to help residents establish a land trust that will be composed of existing and new homes and apartments, and that will preserve affordability for generations of GES families. This partnership is both committed to the community and to the development of long-term stability for families in GES—in line with the missions of each organization in this collaborative."

CDOT has made progress on several of the 148 community commitments outlined in the January 2017 Record of Decision, which provided final federal approval for the Central 70 Project. In summer 2017, major renovations were completed at Swansea Elementary School, and this summer, the school's playground will be reconstructed.

CDOT also is in the process of delivering home improvements to approximately 250 homes through a partnership with the City and County of Denver, and several nonprofit organizations.