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Denver approves first affordable housing project with Vibrant Denver bond
Margaret Jackson //June 5, 2026//
251 E. 12th Street, Denver. Courtesy of the City and County of Denver.
251 E. 12th Street, Denver. Courtesy of the City and County of Denver.
Denver approves first affordable housing project with Vibrant Denver bond
Margaret Jackson //June 5, 2026//
In Brief:
- Denver city council approves $4.5 million Capitol Hill purchase
- First affordable housing project funded by Vibrant Denver Bond
- Site near Colfax Bus Rapid Transit for transit access
- Vibrant Denver Bond allocates $45 million for affordable housing
Denver is putting its voter-approved bond dollars to work.
The City Council has approved the purchase of 251. E. 12th Ave. in the Capitol Hill neighborhood for $4.5 million. The acquisition marks the first affordable housing project funded by the Vibrant Denver Bond program.
The site, a nearly one-acre parcel, has been vacant since the Colorado Department of Labor and Employment downsized its office footprint.
Now, the city plans to revitalize the commercial space into a community asset.
“A Vibrant Denver is one where parents spend more time walking their kids to school or the playground and less time worrying about making the rent,” Denver Mayor Mike Johnston said in a statement. “This site is perfectly situated for working families and is an ideal use of the Vibrant Denver Bond.”
The property met the required criteria, including the need for more affordable housing in the area, its ability to keep residents in their neighborhood, and proximity to transit, schools, childcare, parks, and playgrounds.
The development is easily accessible to the nearly complete Colfax Bus Rapid Transit (BRT) project, ensuring future tenants have affordable transit options directly to jobs along the major urban corridor.
The $45 million designated for affordable housing within the broader Vibrant Denver Bond program gives Denver the flexible capital needed to land-bank, buy standing structures or acquire prime sites for builders.
The city anticipates closing the Capitol Hill deal by the end of June. Following the closing, Denver plans to issue a formal request for proposals to redevelop the vacant state building into a vibrant residential hub.
Approved by voters in 2025, the $950 million Vibrant Denver Bond program is a multiyear initiative designed to deliver 58 projects across the city by 2031. Beyond tackling the housing crisis, the bond fund is bankrolling improvements to regional libraries, cultural centers, parks, bridges, and pedestrian and cycling safety infrastructure.
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