By Thomas Spahr
Buyers looking for an affordable home in Denver are about to get some relief. Thrive Home Builders (formerly known as New Town) is preparing to release a new income-qualified row home product, called Elements, with prices for a 2-bedroom home starting at $172,900 and prices for a 3-bedroom starting at $199,900. In all, Thrive will build 165 of these units in the Willow Park East and Wicker Park neighborhoods of Stapleton.
There will be two floor plans available: Rhythm and Tempo. Both floorplans can be built as a 2-bedroom unit with walk-in closets in both bedrooms or 3-bedroom units with a second bathrooms upstairs. All units will have an upstairs laundry room, 2-car garage, front porch and Whirlpool appliances. In addition, these homes will have many of the great energy efficiency features that has been the hallmark homes built by Thrive. More info about all of the included features of these homes can be found here.
Of course, being income-qualified units, buyers have to meet certain criteria. Purchasers cannot exceed the maximum income limits as follows:
- 1-person household: $44,750
- 2-person household: $51,150
- 3-person household: $57,550
- 4-person household: $63,900
The Elements rowhomes are subject to Denver Inclusionary Housing guidelines, which includes a deed restriction limiting resale of the home to other income-qualified households and the unit must be owner-occupied. Buyers must also complete a course to obtain a Certificate of Housing Counseling Completion prior to purchasing and, just like any other purchase, will need to qualify for a mortgage.
In all, this is a great opportunity for qualifying buyers to live in the Stapleton neighborhood and own a place of their own. The first lots are expected to be released in the next three weeks, so there is still time to get prepared to buy one of these units. If you are interested in more information about these homes and Denver’s affordable housing program, contact us today.