Colorado Real Estate Journal -
Denver-based Mercy Housing recently celebrated the opening of the 92-unit Bluff Lakes Apartments in Stapleton. The $16.1 million, eco-friendly Bluff Lakes is the first new community in the Denver area by Mercy in several years. Before Bluff Lakes, the most recent development by Mercy was the Aromor at 1309 Grant St., which Mercy purchased in 2008 and rehabilitated to open in 2009 as part of Denver’s Road Home Initiative, said Barbara Faulhaber, spokeswoman for the nonprofit Mercy, one of the nation’s largest owners, managers and developers of affordable rental properties in the nation. The Road Home Initiative, launched in 2005, is a 10-year plan to end homelessness in Denver. Bluff Lakes is at 10495 E. 31st Ave., at the intersection of East 31st Avenue and Hanover Street, just west of Martin Luther King Boulevard. The four-story building provides rental housing for those earning between 30 percent and 50 percent of the area median income. Some units are set aside for veterans, low-income and formerly homeless individuals and families. Units range in size from 615 to 1,209 square feet and monthly rents range from $229 to $1,000. Bluff Lake joins three other Mercy developments in Stapleton. The others are Clyburn at Stapleton, Central Park Rows at Central Park West and Parkside Apartments. Bluff Lake was built by Catamount Constructors Inc. and was designed by the KTGY Group. It is designed to look as attractive as any market-rate development, Faulhaber said. It includes 36 one-bedroom, one-bathroom units, 45 two bedroom, two-bathroom units and 10 three-bedroom, two-bath units. The demand for such housing far outstrips the available supply, Faulhaber said. A recent Colorado Division of Housing report said there are twice as many Colorado low income families than there are rental housing units they can afford. Colorado offers 50 affordable apartments and other rental units for every 100 households with combined income under $20,000, according to the study. “We do not anticipate any problems renting the units and have created a waiting list already,” Faulhaber said. Lake Bluff also is extremely energy-efficient. It will include Energy Star appliances, lighting and interior and exterior water fixtures. In addition, it has Energy Starcompliant roofing. A photovoltaic solar system powers all of the common-area lighting. When it was being built, more than 70 percent of the construction waste was diverted to recycling. To enhance the indoor air quality, low- or no-volatile organic compound paints, primers, sealants and carpets were used. “In addition, we have followed the Built Green specifications for providing ample fresh air to all units and common areas,” Faulhaber said. People who live at Lake Bluff will be instructed on how to maximize green features. “Residents will participate in a training session at the time of lease signing that will help educate them about the green features of their new home as well as to oriented them to amenities, recycling facilities and public transit options,” Faulhaber said.