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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