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Letters from Environmental Building News
May 1, 1998
Jonathan Rose Responds on Denver Dry Affordable Housing
Thanks for forwarding to me your readers’ thoughtful letters on the affordable housing component of Denver Dry. First of all, a few clarifications: although at least 80% of the units must be rented to low-income residents, there are no specific units designated as affordable. Furthermore, the affordable leases must be spread amongst the unit types on a proportional basis—thus, if a two-bedroom unit becomes available, and if it were to be rented to a market-rate tenant, resulting in the project having less than 80% affordable leases, the apartment would be rented to a tenant from the low-income waiting list, no matter which two-bedroom apartment it is. The units are affordable because of the way they were financed, not because the construction was cheaper....
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