City officials marked the grand opening of Holly38, a 253-unit affordable apartment complex at 3800 N. Holly and 5909 E. 38th Ave on May 21, 2025. The development is the largest city-supported affordable housing complex in Denver since the establishment of the Department of Housing Stability in 2019.
Highlights
- Holly38 provides 253 one- to four-bedroom apartments to families with incomes between 30% and 80% of the average median income.
- The $93.9 million development consists of eight three-story structures with 29 four-bedroom townhomes.
- There are income restrictions with qualifying ranges between $27,400 and $71,900 for one individual.
A New Chapter in Northeast Park Hill Housing
Holly38 represents a milestone for Denver’s affordable housing development. The complex occupies six acres of the Northeast Park Hill community and consists of eight three-story residential buildings that house families of all sizes. Two of the complexes contain 29 four-bedroom townhomes with attached garages, accommodating larger families.
Holly38’s Opening and Inclusive Community Vision
The apartment complex boasts comprehensive amenities that are aimed at serving the residents and bringing families together. The project has a clubhouse with televisions, a kitchen, workstations, and a special children’s section for family activities.
Space has been set aside for preschool and after-school programming, reflecting a commitment to supporting families in supporting families with children.
Leasing is currently underway, with special rates for new apartments. A portion of the units will be reserved for households with project-based housing vouchers from the Denver Housing Authority, so residents will not pay more than 30% of their income for rent.
Fulfilling Essential Housing Needs
Holly38 bridges housing gaps by offering income-restricted apartments for households and individuals at low- to moderate-income levels. Families should earn between 30% and 80% of the area median income to qualify, with income ceilings varying from $27,400 to $71,900 for one-person households.
The project has units ranging from one- to four-bedroom and with lower rents than the surrounding properties, with utilities factored into rent charges.
Partnerships Driving Affordable Housing Success
The $93.9 million project needed meticulous collaboration among private and public partners to render it whole. The project received $8.3 million in gap financing in American Rescue Plan Act funds from the city and the federal HOME Investment Partnerships program.
Additional public finance partners that helped make the project happen include the Colorado Department of Local Affairs, the Colorado Housing & Finance Authority, and the Denver Housing Authority. HOST also gave $8.3 million in gap funding from federal funds to finance the development.
Joe DelZotto, president and CEO of Delwest Development Corp., attributed the collaboration to the project’s success. “Creating 253 units of affordable housing doesn’t happen without a village—and this milestone reflects the dedication of city leaders, community organizations, funding partners, and countless individuals who believe in the power of stable, dignified housing,” said DelZotto.
Holly38’s groundbreaking took place in June 2023. The feelings of Denver residents were also expressed by Mayor Michael B. Hancock when he stated, “Everyone should have the opportunity to affordably live and work in Denver. Projects like Holly38 deliver on that promise.”
Holly38 is a milestone investment in Denver’s future affordable housing supply. The project aligns with 2025 city-wide objectives to create 3,000 new affordable houses and narrow the affordability gap with creative solutions.
