$43 Million Financing for Low-Income ApartmentsNews | August 3, 2015
Kutak Rock served as bond counsel to the City and County of Denver in the financing of 223 new low-income apartments in Denver’s Five Points neighborhood. The Kutak Rock team, led by John Henry, Jack McGill and Fred Marienthal, assisted in closing the $43 million financing to build the new apartment buildings.
The two new apartment buildings will target the large number of young adults moving to Denver with limited amounts of money available to spend on rent. The apartments will be affordable to those making incomes in the low $30,000s.
The large apartment building will rise four stories and include 195 units and a 205-space parking garage. The smaller building will include three stories and hold 28 units. The project is expected to bring about 350 new residents to the Five Points neighborhood once it is completed in fall 2016.