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Fri. Jul 19th, 2024

DaVita, Goshen and Continuum Eye employee units in Denver

By meerna Jun25,2024
DaVita, Goshen and Continuum Eye employee units in Denver

DaVita, a national provider of kidney dialysis services, has partnered with Goshen Development and Continuum Partners to build hundreds of workforce housing units in downtown Denver.

A Denver-based health care company and local developers plan to build an apartment complex of unspecified size at 2000 Welton Street in Five Points, according to the Denver Business Journal. It would replace a parking lot.

DaVita purchased the half-acre parcel in April for $3.25 million, or $6.5 million per acre.

The seller was an affiliate of Chicago-based The It is unclear whether either plan has been approved.

The goal of the DaVita-led joint venture is to build an affordable complex that will provide “much-needed workforce housing” for middle-income health care workers, teachers, frontline caregivers and first responders, the statement said.

“We were attracted to this project because it provides a unique way to strategically invest in Denver’s future,” Peter Berkowitz, DaVita’s group vice president of real estate, investments and facilities, told the Business Journal.

“While we always want to attract strong talent, this project is less about recruiting for DaVita and more about ensuring our hometown is a sustainable and affordable place to live.”

The project is expected to be the first development in Denver under the supervision of the Colorado Middle Income Housing Authority, an agency dedicated to promoting affordable housing for middle-income workers.

Continuum and Goshen worked with state lawmakers to establish the authority under SB22-232, which Gov. Jared Polis signed into law in June 2022. It allows developers and housing providers to work with the state to finance and build rent-controlled workforce housing.

According to the Business Journal, properties built through the government may also be exempt from property taxes if local governments agree.

Continuum, Goshen and DaVita are working on a financial model and other “key issues” for the Welton Street project. Pending approvals, they hope to begin work late next year or in 2026, Continuum CEO Mark Falcone said in an email to the newspaper.

The proposed housing units will support moderate-income residents who earn between 80 and 120 percent of the area median income.

“Denver, like many other large metropolitan areas, is struggling with an affordability crisis,” Falcone wrote in his email. “This city desperately needs creative solutions that enable Denverites to live where they work.

“DaVita, like all major employers in the Denver market, has experienced recruitment and retention challenges due to rapidly rising housing costs,” he added. “2000 Welton Street will be a valuable source of housing for its employees and others working in and around the area.”

— Dana Bartholomew

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