DENVER, CO - Chicago-based Evergreen Real Estate Group today announced it has opened a satellite office in Denver and was named development partner for the redevelopment of a city-owned lot at 4995 Washington St. in the Globeville neighborhood.
The new office – Evergreen’s first in Colorado – is spearheaded by Javonni Butler, who joined the firm in 2020 and currently serves as a project manager. In that capacity, he will oversee Evergreen’s involvement in Globeville Redevelopment Partners, a partnership involving Rocky Mountain Communities and the GES Coalition that was selected by Denver’s Department of Housing Stability (HOST) and Department of Finance as part of an RFP process. The group’s winning proposal for the 2.7-acre site, a former car dealership, calls for approximately 170 units of income-restricted rental housing and 20,000 square feet of community-serving commercial space.
“Globeville is an underserved area of Denver, and we are honored to be working with the City and County of Denver, our project partners, and local stakeholders who understand the site’s potential as a catalyst for future investment,” said Butler. “We look forward to applying best practices learned from nearly 25 years of affordable housing development – including projects that co-locate apartments with other community-focused uses – and contributing to the broader revitalization of Washington Street as critical infrastructure improvements are made that, together, enhance livability.”
Pending City Council approval, Globeville Redevelopment Partners will enter into a 99-year ground lease with the City and County of Denver, which acquired the property in 2019 and will retain ownership. The apartments will be reserved for households earning between 30% and 80% of the area median income (AMI), with approximately half of the units offering three- and four-bedroom floor plans.
“With this project, we’re not only creating quality rental housing where none previously existed, but also ensuring its long-term affordability,” said Butler. “We believe the inclusion of larger units will help meet the housing needs of area families who have few options available to them, particularly as living costs continue to rise. We look forward to bringing this important project to life along with our dedicated partners, Rocky Mountain Communities and GES Coalition, who both have strong track records of successful community development.”
In addition to the Globeville development, Evergreen is exploring additional investments in Denver and throughout Colorado.
Nationally, Evergreen has completed a number of new-construction and adaptive reuse projects. They include a pair of co-located library and affordable senior housing developments in Chicago, which were built in partnership with the City of Chicago, Chicago Housing Authority and Chicago Public Library. The firm’s current projects include Auburn Gresham Apartments, a two-building mixed-use development that will bring 58 units of affordable housing and community-centric retail space to Chicago’s South Side as part of the city’s INVEST South/West neighborhood improvement initiative. In partnership with nonprofit developer LUCHA, Evergreen is also developing Encuentro Square, which will include 187 affordable apartments and a new public park in Chicago's Logan Square neighborhood. In Atlanta, the firm is developing 360 Peachtree St., a two-tower, mixed-use development including 320 affordable housing units, retail and a school in partnership with Atlanta First United Methodist Church.
About Evergreen Real Estate Group: Founded in 1999, Chicago-based Evergreen Real Estate Group is a fully integrated multifamily company that develops, acquires, and manages affordable and market-rate multifamily apartments for both seniors and families across 11 states. Evergreen specializes in thoughtful, creative residential development solutions -- from adaptive reuse of historic buildings to new development in cities and towns facing a shortage of affordable housing. The firm is led by a passionate, cross-disciplinary team of developers, architects, urban planners and attorneys who have come together to create high-quality apartment communities, often in collaboration with local municipalities and financial partners who share its vision of investing not just in real estate, but also the people who call our communities home. Evergreen currently owns and manages more than 10,000 units of multifamily housing. For more information, visit www.evergreenreg.com