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DENVER-Mercy Housing, a nonprofit affordable housing development company, today broke ground on the Legacy at City Park South. The project, across from City Park, fulfills Opus Northwest's affordable housing requirement for the luxury Pinnacle at City Park South high-rise condo towers under construction.
"This will be a tremendous project, and will provide downtown residences to many people who thought they had been priced-out of the area," says Ricardo Rodriguez, project developer for Mercy Housing. "Opus Northwest has donated time, money and resources to help ensure the success of the Legacy, and provide an important option to people who want to live in this exciting and rapidly emerging part of Denver."
The Legacy at City Park South will provide residences to people with an average income of approximately $40,000 to $61,000 per year. It will have a total of 33 one- and two-bedroom units, priced between $130,000 and $195,000 and ranging in size from 600 sf to 1,060 sf.
Opus Northwest is serving as the master developer of the project and donated the land to Mercy Housing. Mercy has also hired the services of Buchanan Yonushewski Group for the design and construction of the Legacy, a step that has eased the entire development process and enabled construction to begin more rapidly.
"We viewed the Legacy at City Park South as a complement to the Pinnacle at City Park South, rather than simply a way to meet our affordable housing requirement," says Scott Menefee of Opus Northwest. "It will be an outstanding neighbor to the Pinnacle and provide a tremendous option to people who want to live Downtown. We all share in a common vision for the redevelopment of this area, and both of these projects reflect that vision."
The Pinnacle at City Park South will include two residential towers and 18 two-story brick town-homes, all located on the former Mercy Hospital site between 16th and 17th avenues and St. Paul and Fillmore streets adjacent to City Park. Mercy Housing's original headquarters was located on the new construction site 18 years ago, prior to the organization's move to 1999 Broadway in Downtown Denver. Founded by the Sisters of Mercy, Mercy Housing's mission is to create stable, vibrant and healthy communities by developing, financing and operating affordable program-enriched housing for families, seniors and people with special needs.
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