The Denver Housing Authority is looking to ground lease a property it owns in the Golden Triangle to a developer who will build housing.
The quasi-municipal corporation issued a request for qualifications this month seeking a “development partner” that will build supportive or income-restricted units at 1101, 1123 and 1139 Delaware St.
DHA bought the 0.65-acre site in 2021 for a combined $5.85 million, records show.
There are two buildings there now: a green two-story office building used by Mathias Lock and Key at 1123 Delaware St. and a three-story office building with 9HealthFair branding at 1139 Delaware St.
“They were acquired with the goal of land-banking parcels with future affordable housing development potential,” DHA wrote in its RFQ.
DHA said the site was attractive because of its proximity to downtown and its zoning, which allows for buildings up to 250 feet with no parking minimums.
The Golden Triangle has been a hotspot for major multifamily redevelopment in recent years. Denver-based Summit Capital Venture Group and New York-based Rockefeller Group are building a 13-story apartment complex across the street from the site.
DHA said it wants to strike a 99-year ground lease, at $100 per year, for the property. Respondents must set aside at least 40 percent of planned residential units “as supportive housing for very low-income residents who have experienced homelessness or for residents earning below 30% of Area Median Income,” according to the RFQ.
The project could also include non-residential space, according to the document.
DHA sometimes develops projects itself, but the RFQ notes that the organization acquired the Golden Triangle site with funds from the DHA Delivers for Denver (D3) Bond Program. An agency spokeswoman previously told BusinessDen — when DHA made a similar request for a site it owns in Lincoln Park — that program requires DHA to partner with developers to build and operate the projects it funds.