Two New Residential Buildings Begin Construction Near Sloan Lake
Renderings by Zocalo Community Development
DENVER, CO – Construction activity has begun on a full block along the edge of Sloan Lake, marking a significant step forward for a long-planned redevelopment effort led by Zocalo Community Development. The site, located at 3700 W 17th Ave, will be transformed into two separate residential buildings totaling more than 450 new homes, along with a structured parking facility and new internal circulation improvements.
The northern portion of the block will be developed as Aliyah, a 16 story residential tower containing 294 units. A small percentage of those homes will be income-restricted and reserved for Denver Public Schools educators at 60 percent AMI. The building is financed through a mix of private lending and equity investment, including participation from Northwestern Mutual.
On the southern portion of the block, Zocalo and the NHP Foundation are moving forward with Liora, a four story income-restricted apartment building containing 158 units serving households at 30, 50, and 60 percent of the Area Median Income. Liora is being funded through a wide range of state and federal housing programs, including tax-exempt bonds, 4 percent Low Income Housing Tax Credits, a Proposition 123 land loan, subordinate funding from the Colorado Division of Housing, and additional deeply subordinated loans from Zocalo.
The two buildings will share a newly constructed parking garage at the southeast corner of the block. That structure is already under construction and will serve both the residential buildings and the neighboring medical campus. Once the garage reaches completion, structural work for Aliyah and Liora is expected to increase as crews begin preparing for vertical construction phases.
This block has been under discussion for more than a decade, with rezoning completed in 2019 and financing finalized over the past year. The project reflects one of the larger coordinated redevelopment efforts in the Sloan Lake area, combining market-rate housing, income-restricted units, townhomes, and structured parking within a single site.
Further filings and construction milestones are anticipated as both buildings progress through foundation and framing work.
Renderings by Zocalo Community Development
Development Team
• Developer: Zocalo Community Development
• Affordable Housing Partner: The NHP Foundation
• Architects: JG Architecture and Craine Architecture
• General Contractor: BLDRS
• Financing Partners: CHFA, State of Colorado, Colorado Division of Housing, Bellwether Enterprise, PNC Bank, Northwestern Mutual, and Zocalo Community Development
All project information was sourced from publicly available site plans, renderings, and permitting documents.
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All project information was sourced from publicly available site plans, renderings, and permitting documents.
3 minute read • Early construction has begun on two new residential buildings near the southwest edge of Sloan Lake. The project includes a 16 story tower with 294 units and a four story building with 158 income-restricted homes, developed through a partnership between Zocalo Community Development and the NHP Foundation.