Jonathan Rose Companies is spearheading the redevelopment of the historic Denver Dry Goods Building, transforming it into a revitalized affordable housing project. Originally constructed in 1888, the Denver Dry Goods Building was once the largest department store in the region. Now, the project—dubbed the Denver Dry Adaptive Reuse—aims to rehabilitate 51 existing affordable units while converting vacant commercial space into 55 new affordable apartments. The redevelopment will modernize the building’s infrastructure to better serve its future residents.
The 106-unit project will accommodate individuals and families earning between 30% and 80% of the Area Median Income (AMI). In addition to preserving the building’s historic character, the initiative includes significant infrastructure upgrades to meet contemporary standards.
The $67 million development is backed by a broad coalition of public, private, and nonprofit entities, including the Community Opportunity Fund and The Richman Group. The Colorado Housing and Finance Authority (CHFA) is providing both 4% and state Low Income Housing Tax Credit allocations alongside construction and permanent financing.
Groundbreaking is scheduled for late summer 2025, with completion anticipated in early 2027. OZ Architecture is leading the architectural design of the project.
