Hancock described the marijuana industry as “stepping up” and asking to be part of the solution.
Mayor Michael Hancock’s administration on Monday announced a proposal to double the city’s production and preservation of affordable housing in the next five years, raising up to $105 million of long-term debt while increasing annual spending.
The change could include an increase in the local sales tax on marijuana.
“We have heard the public, city council and the Housing Advisory Committee in their desire to see a greater investment in affordable housing,” said chief financial officer Brendan Hanlon.
The goal is to increase the preservation and creation of affordable housing units — from about 3,000 units to at least 6,400 over the next five years. Thousands of the units would be new construction, while others would be renovations or redevelopments of current units.
Welton Street’s residents have changed as Five Points has gentrified. Businesses, faced with a different local clientele, can adapt or try to attract people from outside of the neighborhood.
As gentrification sweeps across Denver, few places show it quite like Welton Street in Five Points, where the tension between the neighborhood’s history and new development is on prominent display along one strip.
On Welton Street, gentrification has transformed a once predominantly black residential area into a luxury apartment-lined strip longtime residents can hardly recognize. The demographics in the area have changed nearly as quickly as the structures themselves.
The nearly 90-year-old building that sits on the corner of Colfax Avenue and York Street has been vacant ever since Abend Gallery moved downtown in May of 2017 — windows papered over and little sign of movement.
But now, there’s movement. And actual signs about the future.
Elitch Gardens first opened at its downtown Denver location on a cool May day in 1995
Elitch Gardens opened at its downtown Denver location on a cool May day in 1995, after seven years of planning and 11 months of construction.
Leaders at the time wanted to give the historic amusement park more room to expand than the center’s former home near West 38th Avenue and Tennyson Street in West Highland allowed. Two decades later, city officials are planning what to do with all the extra land around Elitch Gardens and Theme Park.