Soledad Tobar
Coldwell Banker Residential Brokerage

CENTRAL PARK URBAN LIVING

 

The Central Park Urban Living development will be a remarkable Affordable Housing opportunity in the heart of Stapleton located at 36th Avenue and Central Park Boulevard, just minutes from the Central Park light rail station and near over 13,000 sq. ft., of commercial services and retail currently under construction. Each unit contains 9’ ceilings and large windows allowing natural light to reach all parts of the units, enhancing daylighting and views while decreasing energy cost and usage. All of the units have private patios, balconies, or Juliet balconies.   An indoor/outdoor community club room is located on the northwest corner of the building for residents to utilize as a gathering space for social activities and rest. Benches and pedestrian scale lighting are scattered throughout the site to encourage relaxation in the common outdoor spaces. It is currently available for interested buyers to reserve the unit of their choice during this pre-construction process, should they meet the affordable housing guidelines. 

This 132 condo development will feature 51, one bedroom one bath units and 81 two bedrooms two baths units – most units will have a one car assigned parking space, except for units #305, #309, #320, #321, #324, #325 and #328.  During our pre-construction process, most one bedrooms are priced at $139,500 and two bedrooms at $169,500 (floor plans below).  Some of the still available corner units are priced slightly higher.  Prices are subject to change.

Start of construction is estimated for Spring 2020, with an estimated 2021 delivery.  No models currently exist, but virtual tours of the units are available.

 

 

Please note all plans, layouts, locations, renderings, sizes, materials, finishes and landscapes are subject to change as plans are still evolving.

 

HOW TO VIEW AND SELECT A UNIT

                                                

                            Most one bedroom units are located on the interior side of the building                            Most two bedroom units are located on the exterior side of the building

 

To view all  ONE BEDROOM FLOOR PLANS - Please CLICK HERE

There will be a total of 51 one bedroom, one bath units; most will be priced at $139,500 regardless of location within the building, corner units are priced slightly higher.

To View all  TWO BEDROOM FLOOR PLANS - Please CLICK HERE

There will be a total of 81 two bedroom, two baths units, most will be priced at $169,500 regardless of location within the building, corner units are priced slightly higher.  There are many different floor plans to chose from.

                                                                                   

Once you have selected your unit's location and determined the unit number select the site plan below based on your floor of preference

 

SITE PLANS

Site plans will allow you to see which units are still available and which have been reserved on each floor.  All units reserved are marked as such with an "R"

First Floor Site Plan - CLICK HERE                               Second Floor Site Plan - CLICK HERE                          Third Floor Site Plan - CLICK HERE

Units marked “ADA” are wheelchair accessible units.

Units marked “CITY” will carry the Stapleton Affordable housing covenant of 15 years, plus a City covenant of 15 years, which run concurrent.

Units marked “STATE” will carry the Stapleton Affordable Housing covenant of 15 years, plus a State covenant of 30 years, which run concurrent.

 

Please note all plans, layouts, locations, renderings, sizes, materials, finishes and landscapes are subject to change as plans are still evolving.

 

To hold a unit please use our RESERVATION FORM

PLEASE SUBMIT YOUR RESERVATION AND LENDER LETTER FIRST via email to Soledad@coloradohomes.com.  THEN, ALL FUNDS CAN BE WIRED TO FIRST AMERICAN TITLE - 720 454-5060 - PLEASE CALL FOR WIRING INSTRUCTIONS - Funds can also be mailed to  First American Title - 1899 Wynkoop St #225, Denver CO 80202, please reference your unit number

AFFORDABLE HOUSING – GUIDELINES AND REQUIREMENTS

The Affordable Housing Program, administered by the City and County of Denver, carries income guidelines which are based on household size, including income that may be earned by spouses, children and any household member that will reside in the home, whether they will or will not hold title to the property or be a borrower on any type of financing.  The income limits are as follows:

As part of the affordable housing program, the income limits are as follows:

Family of 1 – Income must be above $35,000 and below $54,950

Family of 2 – Income must be above $40,000 and below $62,800

Family of 3 – Income must be above $45,000 and below $70,750

Family of 4 – Income must be above $50,000 and below $78,500

Family of 5 – Income must be above $54,000 and below $84,800

Family of 6 – Income must be above $58,000 and below $91,100

Income guidelines change every year and a household must meet the income guidelines in order to hold, reserve and contract on a unit.  New guidelines are usually released within the first quarter of every year.

In order to qualify for the program, a buyer must also have a front end or housing ratio of no more than 35%.  A lender would be able to determine this ratio based on a buyer’s loan application.  This front end ratio needs to include PITI (principal payment, interest, taxes and insurance) along with HOA fees (estimated at $200 per month and subject to change).  The property taxes are estimated to be 1% of purchase price, as these units haven’t been assessed yet.  The city will start their income eligibility process only after a buyer is under contract.  The best way to stay on top of the qualification guidelines, changes, restrictions for resale going forward and any other affordable housing guidelines please visit the Affordable Housing website.  

AFFORDABLE HOUSING WEBSITE

 

If a buyer meets these guidelines,  the only other requirement is to qualify and be approved for a mortgage.   

Although it is not required to use the services of any particular lender, we do recommend using a lender that is familiar with the affordable program.  These lenders will be able to provide interested buyers with loan products that will require the minimum out of pocket down payment.  

UNIVERSAL LENDING

Sandy Levy

slevy@ulc.com

303-759-7402 office

FHA, Conventional, Down Payment assistance

http://ulconnect.ulc.com/b2ndm  (link to qualify)

ACADEMY MORTGAGE

Craig Moore

craig.moore@academymortgage.com

(303) 914-1302 office

FHA, Conventional, Down Payment assistance

https://academymortgage.com/about-us/team/edwardpowers  (link to qualify)

UNIVERSAL LENDING

Steven Tilghman

stilghman@ulc.com

469-853-0048 Cell

FHA, Conventional, Down Payment assistance

https://www.ulc.com/stilghman/applynow (link to qualify) 

CALIBER HOME LOANS

Lori Graham

303-249-2728

Lori.graham@caliberhomeloans.com

FHA VA or Conventional  & Down Payment Assistance

 

US BANK

Barry Merryman

303-775-1303

Barry.merryman@usbank.com

American Dream Mortgage, Conventional, No Mortgage Insurance and down payment assistance

 FIRST BANK

McKenna Botts

303 595-2421

mcKenna.botts@efirstbank.com

Down payment, closing costs assistance, affordable options. 

 

In order to reserve and hold a unit, please use the attached reservation form and submit via email along with a lender letter to soledad@coloradohomes.com.  Once you have received confirmation, please contact  FIRST AMERICAN TITLE - 720 454-5060 - FOR WIRING INSTRUCTIONS - Funds can also be mailed to  First American Title - 1899 Wynkoop St #225, Denver CO 80202, please reference your unit number.    

 

An approval letter from a lender is also required.  At time of contract a total of 1% of the purchase price is due as earnest money and the initial $500 will be applied towards that 1%.   

 

 

RESERVATION FORM

FIRST AMERICAN TITLE - 720 454-5060 - PLEASE CALL FOR WIRING INSTRUCTIONS - Funds can also be mailed to  First American Title - 1899 Wynkoop St #225, Denver CO 80202, please reference your unit number

  

 

DHC Affordable Communities Inc. reserves the right to make changes in price, color, materials, features, specifications, layout, option and availability at any time, without notice. Floor plans and renderings are conceptual and should not be relied upon as a precise representation of a completed unit. Floor plans, renderings, dimensions, square footages and related information are approximate and subject to change without prior notice. Field conditions including dimensions and square footages will vary. Refrigerators, Washers and Dryers are Not Included. Dwellings shown are not to scale. No reproductions or other use of these plans may be made without express written consent of NDHC Affordable Communities Inc.