Neenan begins work on Tammen Hall redevelopment

DENVER — Fort Collins-based The Neenan Co., has begun construction on an affordable senior-housing project in Denver’s City Park West neighborhood.

The Tammen Hall redevelopment project is on the Saint Joseph Hospital campus. The Neenan Co. is the design-build partner for the renovation of the historic landmark being developed by MGL Partners and Solvera Advisors LLC.

The property will provide 49 rental apartments for income-qualified seniors 62 years of age and older.

Located at 1010 E. 19th Ave., the eight-story, 52,000-square-foot facility will feature common areas on the first floor, one- and two-bedroom apartments on the second through seventh levels, and the top floor will include a common area and rooftop patio for residents. The project is planned for completion in mid-2019.

“We’re thrilled to support such a meaningful project among Denver’s thriving development scene,” said David Shigekane, president of The Neenan Co. “Not only are we helping to preserve an important piece of Denver’s heritage, but the project will surely play a significant role in Denver’s future.”

Originally built in 1930 as a nurse dormitory for Children’s Hospital Colorado, Tammen Hall was named after Harry Tammen, the first publisher of The Denver Post.

The building was later converted to office space for Children’s Hospital Colorado until the hospital moved to the Fitzsimons Campus in Aurora in September 2007. Designated as a local historic landmark, the exterior and internal renovations will comply with National Park Service standards. Among the spaces to be preserved are a theater and a community room that will be available for neighborhood meetings and events, along with the historic entry and foyer.

Saint Joseph Hospital sold the building to MGL Partners/Solvera Advisors in 2017, with its parent organization, SCL Health, providing a substantial investment to finance the redevelopment, according to a press release.

MGL Partners/Solvera Advisors has received an allocation of 4 percent federal low-income housing tax credits from Colorado Housing and Finance Authority — which were purchased by Midwest Housing Equity Group and Advantage Capital — and received a loan from the Denver Office of Economic Development. Colorado Housing and Finance Authority also issued private activity bonds, purchased by CITI Community Capital. The Denver Housing Authority is a partner in the project.

The project is one of 12 selected statewide for state low-income housing tax credits from Colorado Housing and Finance Authority in 2017. The project also receives support through state and federal historic preservation incentive tax credits.

 


 

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>