DENVER — Denver Mayor Michael Hancock, Denver City Councilman Kevin Flynn and development and community partners celebrated the next stage in the redevelopment of the Loretto Heights area Tuesday morning.
The transformation of the former Pancratia Hall into Pancratia Hall Lofts will see the creation of 72 affordable housing units.
The new Pancratia Hall Lofts will be geared toward individuals and families, with studios to four-bedroom units available. All units will be income-restricted to those earning 30-80% of the area median income, according to the City and County of Denver Department of Housing Stability.
> Above video: Loretto Heights vote in Sept. 2019.
“Denver is proud to be a partner on this affordable housing project and historic restoration, one that aims to house families in our community and keep them housed,” said Mayor Hancock. “We are thrilled to be working with our partners to ensure these units are kept affordable for Denver families for decades to come.”
Designed by Denver architect Harry W. J. Edbrooke, Pancratia Hall opened in 1929 and has served as a campus dormitory and classrooms for generations.
Hancock and Flynn were joined by Jim Hartman and Susan Ely of Hartman Ely Investments, Grant Bennett of Proximity Green, Sister Mary Nelle Gage, Mark Witkiewicz of Westside Investment Partners and Ryan Beiser of PNC Real Estate at the Tuesday morning event.
"We are honored that Pancratia Hall Lofts is the first phase of Westside Investment Partners’ master plan that will transform the historic Loretto Heights campus into a vibrant new community," said Hartman. "This redevelopment will respect the historic character of Pancratia Hall and create truly special affordable apartments for the citizens of Denver. We applaud our entire public/private partnership team for their commitment to overcome many obstacles and bring us to this important day."
“The people of southwest Denver and the larger Loretto community have a strong emotional attachment to this campus, not only to the iconic architectural significance of the site, but more importantly to the spirit of Loretto and the thousands of lives that were shaped here,” said Flynn. “The transformation of Pancratia Hall into housing for the hard-working families of southwest Denver perfectly embodies that spirit and gives permanence to Mother Pancratia’s vision for this prominent hilltop.”
A look at Loretto Heights campus in southwest Denver
At the center of the Loretto Heights development plan is the 72-acre, storied Loretto Heights campus — located at 3001 S. Federal Blvd. The campus is home to the now-shuttered Colorado Heights University. It's distinguishable by its large, red-hued administration building and tower that can be seen from both US-285 (Hampden Avenue) and Federal Boulevard.
Denver City Council voted 11-1 in September 2019 to approve the development of Loretto Heights development plan. Glendale-based Westside Investment Partners purchased the property for $16.5 million in summer 2018.
The firm's developer, ACM Loretto VI, plans to build a walkable community with parks, trails, businesses, homes and affordable housing.
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