Colorado committee advances 67-home proposal near Governor’s Mansion

The Colorado Capital Development Committee voted 4–2 on Oct. 20 to authorize state officials to pursue a contract or lease for a proposal to build 67 affordable and attainable homes on state parking land near the Governor’s Mansion, the committee meeting recording shows. The authorization does not grant Denver land-use approvals or finalize the project’s financing or lease terms.

The proposal would use about 0.494 acres while preserving 28 full-time parking spaces for Mansion and state use. The state’s request for qualifications anticipated a 99-year ground lease and required at least 20% of the units to be affordable at or below 80% of area median income (AMI), a measure of local household income.

Developer Adam Berger told the committee he was committing to set at least half the homes at rent limits for households earning 60% of AMI. That was the developer’s stated plan; final affordability restrictions have not been established in an agreement.

The state estimated the ground lease could generate $25,000 to $50,000 a year for Mansion maintenance. A state public-private partnership official said the amount would depend on financing and that the team was striving for the higher figure. The official described a typical 3% inflation adjustment, but the state’s solicitation leaves rent escalation and other financial terms for proposals and negotiation, so neither the revenue estimate nor the adjustment is a final lease term.

The developer said it planned to submit a concept plan through Denver’s affordable-housing review process and seek a variance or rezoning to address a setback issue. It also plans to apply for state Proposition 123 funding in 2027. Those steps remain separate from the committee’s authorization.