The Real Estate Ladies
Coldwell Banker Residential Brokerage

   

 

The Central Park Urban Living development will be a remarkable Affordable Housing opportunity in the heart of Stapleton located at 36th Avenue and Central Park Boulevard, just minutes from the Central Park light rail station and near over 13,000 sq. ft., of commercial services and retail currently under construction. Each unit contains 9’ ceilings and large windows allowing natural light to reach all parts of the units, enhancing daylighting and views while decreasing energy cost and usage. All of the units have private patios, balconies, or Juliet balconies.   An indoor/outdoor community club room is located on the northwest corner of the building for residents to utilize as a gathering space for social activities and rest. Benches and pedestrian scale lighting are scattered throughout the site to encourage relaxation in the common outdoor spaces. It is currently available for interested buyers to reserve the unit of their choice during this pre-construction process, should they meet the affordable housing guidelines. 

This 132 condo development will feature 51, one bedroom one bath units and 81 two bedrooms two baths units – most units will have a one car assigned parking space.  During our pre-construction process, most one bedrooms are priced at $139,500 and two bedrooms at $169,500 (floor plans below).  Some of the still available corner units are priced slightly higher.  Prices are subject to change.

Start of construction is estimated for Spring 2020, with an estimated 2021 delivery.  No models currently exist, but virtual tours of the units are available.

 

 

 

                                                                                                 To see a virtual tour of the 1 Bedroom, CLICK HERE

                                                                                                 To see a virtual tour of the 2 Bedroom, CLICK HERE

 

HOW TO VIEW AND SELECT A UNIT

                                                  

 

Most one bedroom units are located on the interior side of the building                                        Most two bedroom units are located on the exterior side of the building

 

 

To view all  ONE BEDROOM FLOOR PLANS -Please CLICK HERE 

There will be a total of 51 one bedroom, one bath units; most will be priced at $139,500 regardless of location within the building, corner units are priced slightly higher.

 

To View all  TWO BEDROOM FLOOR PLANS - Please CLICK HERE  

There will be a total of 81 two bedroom, two baths units, most will be priced at $169,500 regardless of location within the building, corner units are priced slightly higher.  There are many different floor plans to chose from

 

                                                                                                                                   

                                                                     Once you have selected your unit's location and determined the unit number select the site plan below based on your floor of preference

 

SITE PLANS

Site plans will allow you to see which units are still available and which have been reserved on each floor.  All units reserved are marked as such with an "R"

 

First Floor Site Plan - CLICK HERE          Second Floor Site Plan - CLICK HERE                          Third Floor Site Plan - CLICK HERE

 

 

Click Here For The Reservation Form

 

 

 

AFFORDABLE HOUSING – GUIDELINES AND REQUIREMENTS

The Affordable Housing Program, administered by the City and County of Denver, carries income guidelines which are based on household size, including income that may be generated by spouses, children and any household members that will reside in the home, whether they will or will not hold title to the property or be a borrower on any type of financing.  The income limits are as follows:

As part of the affordable housing program, the income limits are as follows:

Family of 1 – Income must be above $32,500 and below $52,000

Family of 2 – Income must be above $37,150 and below $59,400

Family of 3 – Income must be above $41,800 and below $66,850

Family of 4 – Income must be above $46,400 and below $74,250

Family of 5 – Income must be above $50,150 and below $80,200

Family of 6 – Income must be above $53,850 and below $86,150 

Income guidelines change every year and a household must meet the income guidelines in order to hold, reserve and contract on a unit.  New guidelines are usually released within the first quarter of every year.

In order to qualify for the program, a buyer must also have a front end or housing ratio of no more than 35%.  A lender would be able to determine this ratio based on a buyer’s loan application.  This front end ratio needs to include PITI (principal payment, interest, taxes and insurance) along with HOA fees (estimated at $200 per month and subject to change).  The property taxes are estimated to be 1% of purchase price, as this units haven’t been assessed yet.  The city will start their income eligibility process only after a buyer is under contract.  The best way to stay on top of the guidelines and any changes, is by visiting the Affordable Housing website.  Link below.

https://www.denvergov.org/content/denvergov/en/denver-office-of-economic-development/housing-neighborhoods/housing-forms.html

If a buyer meets these guidelines,  the only other requirement is to qualify and be approved for a mortgage.   

Although it is not required to use the services of any particular lender, we do recommend using a lender that is familiar with the affordable program and understands the ins and out of the qualification process to ensure approval from the City.  Some of the lenders we have used in the past and recommend are:

UNIVERSAL LENDING

Sandy Levy

slevy@ulc.com

303-759-7402 office

FHA, Conventional, Down Payment assistance

http://ulconnect.ulc.com/b2ndm  (link to qualify)

ACADEMY MORTGAGE

Craig Moore

craig.moore@academymortgage.com

(303) 914-1302 office

FHA, Conventional, Down Payment assistance

https://academymortgage.com/about-us/team/edwardpowers  (link to qualify)

 

 

CALIBER HOME LOANS

Lori Graham

303-249-2728

Lori.graham@caliberhomeloans.com

FHA VA or Conventional  & Down Payment Assistance

 

US BANK

Barry Merryman

Barry.merryman@usbank.com

303-775-1303

American Dream Mortgage, Conventional, No Mortgage Insurance and down payment assistance

In order to reserve and hold a unit, please use the attached reservation form; there is a $500 refundable deposit which will be held by Heritage Title.  This deposit can be made by check, money order and/or cashiers check.  Checks can be dropped off at our office at 600 Grant Street #900.  For after hours and weekends, checks can be dropped off at our drop box located to the left of the front door of our building marked “COLDWELL BANKER”.  An approval letter from a lender is also required.  At time of contract a total of 1% of the purchase price is due as earnest money and the initial $500 will be applied towards that 1%.   

                                                                                                                                       Click Here For The Reservation Form

 

                                                               Click Here for the Aerial View

 

DHC Affordable Communities Inc. reserves the right to make changes in price, color, materials, features, specifications, layout, option and availability at any time, without notice. Floor plans and renderings are conceptual and should not be relied upon as a precise representation of a completed unit. Floor plans, renderings, dimensions, square footages and related information are approximate and subject to change without prior notice. Field conditions including dimensions and square footages will vary. Refrigerators, Washers and Dryers are Not Included. Dwellings shown are not to scale. No reproductions or other use of these plans may be made without express written consent of NDHC Affordable Communities Inc.