Denver Mayor Michael Hancock and community leaders will discuss the importance of
new mixed-use development that includes affordable housing, a local grocery,
an arts education center, and more
WHEN: Thursday, March 2, 2022
- Community celebration 10-10:30 a.m.
- Presentations by community members and leaders 10:30-11:15 a.m.
including Denver Mayor Michael B. Hancock - Ceremonial groundbreaking 11:15 a.m. Rain or Snow. Tents and heaters will be provided.
WHERE: 12444 E. Albrook Drive, Denver, CO 80239 (former site of RTD Park & Ride)
WHAT: Community groundbreaking ceremony for Phase I of the Montbello FreshLo project (called the Montbello FreshLo Hub) – a community inspired and directed project that will create a space for residents to live, shop, convene, experience art, improve their health and more. Phase I includes a six-story building with 97 affordable housing units ranging from one- to -three bedrooms for individuals and families living at 30% and 50-70% AMI. The building will also house a mental health center, office and retail space on the first floor. Construction of Phase I is expected to be completed in late 2024. Phase II will feature a grocery store, a cultural arts education center, and a business incubator.
WHO: The Montbello FreshLo Hub is a community inspired and driven project in which thousands of Montbello residents have participated with the goal of improving the quality of life for everyone in the community.
The project team includes:
Developers: Montbello Organizing Committee and FLO Development Services, LLC
Architects and Engineers: The Roybal Corporation with Van Meter Williams and Pollack, LLP; Desibl Studio
Tax Credit Consultants: S.B. Clark Companies
General Contractors: Alliance Construction Solutions and Gilmore Construction Corporation–A Joint Venture; Gilmore Construction Corporation
Partners: Colorado Black Arts Movement DBA FreshLo/ARTS, WellPower, Daily Table, Montbello Building Community Wealth Center
FUNDING: The overall Montbello FreshLo Hub project budget is estimated at $85 million and consists of a diverse mix of capital sources:
- LIHTC (Low Income Housing Tax Credits)
- NMTC (New Markets Tax Credits)
- Construction Loans
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- Government Grants
- Philanthropic Contributions
- Impact Investments
Funders, donors and impact investors who have contributed to the Montbello FreshLo Hub include:
- AJL Foundation
- Anonymous
- Bonfils-Stanton Foundation
- Burgess Services
- Citi Community Capital
- City and County of Denver
- DEDO
- HOST
- Colorado Creative Industries
- Colorado Division of Housing
- Colorado Enterprise Fund
- The Colorado Health Foundation
- CHFA (LIHTC and Capital Magnet Fund)
- Colorado Office of Economic Development and International Trade (ARPA)
- The Colorado Trust
- The Denver Foundation
- FLO Development Services, LLC
- Gates Family Foundation
- Impact Development Fund
- Kaiser Permanente
- Kresge Foundation
- Mile High Connects/SPARCC
- Montbello Organizing Committee Board of Directors
- Montbello Organizing Committee Staff
- Rhondda Grant Family Fund of The Denver Foundation
- U.S. Bancorp Community Development Corporation
- U.S. Department of Housing and Urban Development
ABOUT MONTBELLO ORGANIZING COMMITTEE (MOC):
Montbello Organizing Committee’s mission is to galvanize Montbello residents and provide them with the tools and resources necessary to develop their leadership skills to proactively address the issues affecting their community and quality of life. To learn more, visit www.montbelloorganizing.org or on Facebook, Twitter and Instagram @MontbelloOrg.
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