**Shea Properties to Convert Denver Office Building into Affordable Housing**
Shea Properties is leading a project in Denver to transform a 124,000-square-foot office building into affordable housing. The initiative will be funded in part by $29 million in bonds recently approved by the Denver City Council, along with federal and state tax credits.
The bonds will support the acquisition, construction, and rehabilitation of the property at 4340 S. Monaco St., which is set to become a residential complex featuring 143 units ranging from studios to four-bedroom apartments.
All units will be income-restricted, with tenants earning between 30% and 70% of the area median income. The project will include various amenities, such as outdoor grilling and seating areas, common rooms, a full workout facility, a pet spa, and a dedicated bicycle room.
Construction is expected to begin in April and is anticipated to take approximately one year to complete.
