Archway Housing Breaks Ground for $15 Million Affordable-Housing Project in Lakewood

So maybe the ground being broken had turned to mud from rain and snow. Maybe it was still raining and snowing. But what a metaphor for Archway Housing & Services’ 40 West Residences groundbreaking. The gloomy weather only represented obstacles overcome and the sunny weather ahead a symbol for the bright future of the comprehensive affordable-housing project in Lakewood. And for shovel-wielding participants? The wet conditions only made it easier to dig into that temporarily soft ground.

Lakewood Mayor Adam Paul (left); keynote speaker and HUD regional director, Rick Garcia; and Archway executive director Joyce Alms-Ransford

On Friday, April 29, partners and supporters of Archway’s newest housing project gathered at the future site of 40 West Residences to mark the beginning of construction and the completion of closing–literally the day before. Archway’s executive director, Joyce Alms-Ransford, presided over a program packed with speakers that included Lakewood Mayor Adam Paul and keynote speaker Rick Garcia, HUD regional director. Key thoughts of the day centered on gratitude, appreciation, perseverance and the extensive collaboration among a myriad of diverse groups and individuals.

This innovative, affordable housing project is located near the “Gateway to Lakewood” on Colfax Avenue, the busiest transit corridor in Colorado. With a broad base of support, 40 West Residences will serve individuals and couples with a range of incomes, including low and very low-income veterans, a critically underserved population in the Denver metro area. In 2012, Archway Housing & Services Inc. purchased the parcel of land at 5830 W. Colfax Ave. with plans to construct a new affordable housing development. For more than four years, Archway has diligently pursued the development of 40 West Residences, and the organization has obtained the funding necessary to begin construction.

Lots of love for JHL Constructors

With a total development cost of $15 million, 40 West Residences was designed by VTBS Architects and will be built by JHL Constructors. It is anticipated that construction will be completed in June, 2017. The complex will be a four-story, 46,663-square-foot building comprised of 54 one-bedroom and 6 two-bedroom units–25 of those units are set aside for homeless U.S. military veterans. The remaining units will be reserved for individuals or couples who meet income requirements.

In July 2015, the Colorado Housing and Finance Authority awarded tax credits to 40 West Residences. Additionally, investors in the project are National Equity Fund (NEF), which focuses on veteran housing projects. Also partnering to provide mortgage financing are BBVA Compass and FirstBank of Colorado. Mile High Community Loan Fund provided critical funding for the land purchase and predevelopment activities. Metro West Housing Solutions will be a Special Limited Partner, providing property tax exemption. Other funders include: Lakewood/Jeffco Home Consortium, Colorado Division, the Federal Home Loan Bank – Topeka, The Home Depot Foundation, and Northrop Grumman/Local Initiatives Support Corporation (LISC). The Council for Health & Human Services Ministries, UCC (CHHSM), as well as Urban Lights will provide donated or discounted goods and services. Other supporters include the Rocky Mountain Conference United Church of Christ, West Colfax Community Association, Two Creeks Neighborhood Association, 40 West Arts District, and the Lakewood–West Colfax Business Improvement District.

Joyce Alms-Ransford (second from left), with project supporters

In partnership with the Veterans Administration, the Colorado Division of Housing, and HUD, Archway was awarded 25 project-based VASH Vouchers to serve veterans who are homeless. Archway also has partnered with Jefferson Center for Mental Health, VA-Eastern and Rocky Mountain Human Services to provide critical services for veterans. These partnerships and the construction of 40 West Residences will reduce the delays in housing placements and increase housing choices for homeless veterans, especially at a time when affordable housing options are limited. Other households can access services if they are in need; however, the residents of 40 West Residents, comprised from the general public, may have no other needs than a decent, safe and affordable place to live.

Archway Housing & Services and Archway Investment Corporation’s missions are to change lives by providing housing and related supportive services that engender a safe environment and teach community skills for families with low-to-moderate incomes. For more information, please visit: http://www.archwayhousingandservices.org/.