DENVER (February 25, 2019) – Koelbel and Company and Trailbreak Partners – with Pinkard Construction and Van Meter Williams Pollack architects – held a grand opening and ribbon cutting celebration Monday for Sienna Sloans Lake, a 49-unit affordable apartment development on the old St. Anthony’s Hospital campus. Festivities included opening remarks by Trailbreak Partners’ Doug Elenewitz; Koelbel and Company’s Carl Koelbel; and Denver Mayor Michael Hancock; followed by refreshments and tours of the new affordable development.
“Sienna Sloans Lake thoughtfully transforms a hole in the fabric of the city into an area of vibrancy and inclusiveness that the community can be proud of,” said Trailbreak Partners’ Doug Elenowitz. “This project was enormously complex, and not for the faint of heart. I can honestly say that without (this team’s) vision and commitment and perseverance, it wouldn’t have been completed.”
As construction manager/general contractor, Pinkard Construction conducted a complete gut and complex renovation of the 78-year old Kuhlman Building, a former nunnery and nurses’ residence.
“Sienna Sloans Lake is helping the City to respond to our unprecedented growth,” said Denver Mayor Michael Hancock. “We are proud to accept the legacy of those nuns and nurses whose spirits fill this great facility. Today we are preserving this neighborhood’s history, character, and sense of community.”
The newly completed development contains 49 affordable units ranging from studios to 2-bedroom units. All units are exclusively for households earning up to 60 percent of the area median income (up to $37,800 for a single-person household, or up to $48,600 for a family of three). Sienna Sloans Lake also features 5,000 square feet of retail, and is conveniently located close to public transit.
Developed by Koelbel and Company and Trailbreak Partners, Sienna Sloans Lake offers onsite leasing/staff, a rooftop deck with mountain and skyline views, in-unit washers and dryers, and a fitness room.
The Denver Office of Economic Development (OED) provided $318,500 in gap financing to help make the project viable. City financing was allocated from the general fund in 2016, supporting soft costs associated with renovation. Other public finance partners include the Denver Urban Renewal Authority and the Colorado Housing and Finance Authority.
Sienna Sloans Lake is located at W. 17th Ave. and Perry St., in Block 3 of the Sloans redevelopment.
photo left to right:
Luke Cannon – Koelbel and Company; Doug Elenowitz, Trailbreak Partners; Britta Fisher – Chief Housing Officer; Denver Mayor Michael Hancock, Carl Koelbel – Koelbel and Company; Josh Widoff, Chair of DURA Board of Commissioners; Walter A “Buz” Koelbel Jr. – Koelbel and Company
About Pinkard Construction
With 57 years headquartered in the Colorado Front Range, Pinkard Construction Company is a Colorado leader in affordable housing rehabilitation. For more information, please contact Jim Mellor at 303.986.4555 or visit our website at www.pinkardcc.com.
About Koelbel and Company
Founded as a residential brokerage company in 1952 and now a full-service real estate company with developed properties spanning from Vail and Winter Park to Louisville and Denver, Koelbel and Company has helped change the face of the Centennial State. Now in its third generation, the family owned Koelbel and Company continues to place its indelible mark on the Colorado landscape with developments that blend ageless values with pacesetting design. For more information visit www.koelbelco.com.
About Trailbreak Partners
Trailbreak Partners is an alternative investment and advisory firm with a focus on value-add commercial properties and development of urban mixed use real estate in Colorado. The firm’s Principals have unique expertise in successfully managing the complexities of urban development including entitlements, environmental issues, infrastructure, finance and public-private partnerships. www.trailbreakpartners.com/