Gorman & Company announced the grand opening of Avenida del Sol, an affordable housing community in the Westwood Neighborhood. The grand opening was opened to the public and was held on Tuesday, May 3, 2022, at 5048 Morrison Rd. in Denver.
Avenida del Sol is an 80-unit affordable family housing development serving families and individuals. More than one-quarter of the units will be restricted at 30% and 40% of the Area Median Income (AMI), and 30% of apartments will be three-bedrooms for families. The overall project includes one, two, and three-bedroom units restricted at 30%-80% AMI or an income range from below $24,630 to as high as $65,680 for an individual to qualify.
“Avenida del Sol is a critical element to this neighborhood’s dedicated, multi-faceted investment efforts. We are pleased to be able to provide affordable, newly constructed housing for a community that desires to remain in their chosen neighborhood in the face of gentrification pressures,” Kimball Crangle, Colorado Market President of Gorman & Company, said in a statement.
“Economic trends in the Westwood neighborhood point to a significant need for affordable housing units,” Brian Swanton, President & CEO of Gorman & Company, said. “One of the few ways to buck that trend is through the production of new, high quality, affordable housing. Avenida del Sol accomplishes just that. While more is needed, this development adds to the work being accomplished in the neighborhood.”
