Affordable housing complex coming to a triangle lot in Denver’s Five Points neighborhood

A four-story, multi-unit affordable housing development has been proposed for a triangular lot in Denver’s Five Points neighborhood, according to plans submitted to the city earlier this month by Cohen-Esrey, a Kansas-based real estate developer and investor in multi-family housing complexes.

Documents for the property show that the development at 2205 N. Washington St. will be named Paragon Place. It will feature 4,000 square feet of commercial space, 42 parking spaces and 50 residential units, including one-, two-, and three-bedroom apartments.

“Davis Partnership Architects is partnered with Paragon Behavioral Health and Cohen-Esrey Development Group to design a family-focused affordable housing community in the historic San Rafael neighborhood between Five Points and Uptown,” said Guadalupe Cantu, associate principal at Davis Partnership Architects.

“Paragon Place is being developed through several unique community partnerships and will center around trauma-informed design to create a beautiful and calming environment in which families can grow and thrive while positively adding to the surrounding community.”

A concept plan rendering for Paragon Place at 2205 N Washington Street, featuring 4 stories and 50 units, with aerial views looking southwest and northwest. (Rendering from Denver public records)

The property will also include a lobby with a residential lounge and fitness center, along with therapy rooms and shared office spaces for staff, records show.

However, plans could change as Cohen-Esrey has submitted documents to the city for another potential option, a five-story building with 66 residential units.

Mainspring, a Denver-based real estate investment and development firm, bought the nearly 32,000-square-foot lot from the Denver Housing Authority for over $2 million in early 2018, according to city property records.

Cantu said the property will be in one of the best locations in the city, providing convenient access to public transportation, parks, schools, grocery stores like Safeway and cultural highlights like the Denver Art Museum.

Within blocks of Uptown, Restaurant Row on 17th Avenue and Denver’s RiNo neighborhood, the 0.73-acre plot of land is currently being used as a dog park. According to the project’s application details, the estimated completion date for the property is June 2027.