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DENVER-This fall, the $7 million, mixed-use Point project will open in the Five Points neighborhood. Mayor Wellington Webb notes Five Points is the heart of African-American heritage in Denver, and the Point will be an important contributor to improving the neighborhood.

The 68-unit community at 26th and Washington streets includes 35 rental units, of which 21 are affordable for households earning between 30% to 60% of the area median income.

It also includes 33 for-sale units, of which 10 are reserved for families earning up to 80% of the area median income.

It also includes about 12,800 sf for retail and offices.

The 6,328 sf of retail space can accommodate food uses from coffee shops to full-service restaurants, says Kelly Greene, of Unique Properties LLC, the exclusive listing agent for the project.

Greene notes the Point is adjacent to light rail, banks, restaurants and other rail. Retail rents average $16 per sf, triple net in the 1,200-sf to 3,629-sf spaces.

The Five Points Business Association and the non-profit Hope Communities Inc. are developing the Point.

Funding is coming from the Colorado Division of Housing, HUD, the city of Denver, Mercy Loan Fund, US Bank, Bank One and Fannie Mae.

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