But it's unlikely any of the Broncos will be renting a unit there. Centennial East is aimed at "work-force" housing for people who earn 40% to 60% of the area median income. Of the 240 units, about 86% of them are earmarked for renters in that category.
Brisben, which owns about 1,500 units in the Denver area, received $2 million in tax-exempt bond financing from Arapahoe County for the project, as well as tax credits from the Colorado Housing and Finance Authority and the Colorado Division of Housing.
The community is filling up fast with teachers, firefighters, dispatchers, medical assistants and other professionals who can pay monthly rents of $558 to $1,100, but would be hard-pressed to come up with $1,500 or more at a comparable luxury apartment development.
A study by the Southeast Business Partnership estimates the area will need another 12,000 affordable housing units during the next three years. Officials say they hope Centennial East serves as a model for future projects.
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