The redevelopment of Bean Towers, Arrowhead and East Village will cost about $177 million. The $20 million grant is considered an important way to jump-start the public-private partnership for 874-mixed-income housing units.
"I don't usually like to come to these things," said Michael Liu, HUD Assistant Secretary for Public and Indian Housing, who handed officials an over-sized check for $20 million. "But Denver gets things done," he added. "I know you'll do what you said you're going to do and you'll do it when you said you would. And you'll probably come in under budget."
He says many cities complain about all of the restrictions HUD places on them, such as getting the zoning worked out, but he said Denver officials simply rolled up their sleeves and did what was required.
A ceremony for the grant drew about 100 residents, politicians, developers, and others. "Winning this grant is an enormous honor, but the work is not done," said Sen. Ben Nighthorse, Campbell, R-Colorado. "We still need the support and commitment of all those involved to make this revitalization a reality."
Congresswoman Diana DeGette, D-Denver, says she was thrilled with the grant. "The redevelopment of the three housing sites included in this project is key to the revitalization of a distressed area that has suffered over the years from disinvestments and poverty," DeGette says. "This grant will allow the disenfranchised area to be woven back into the fabric of the Denver community as a vibrant and productive neighborhood."
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