FOR IMMEDIATE RELEASE: February 25, 2002	CONTACTS: Cherie Kirschbaum 303.830.3303/ckirschbaum@mercyhousing.org
Mercy Housing SouthWest to develop at Stapleton
Forest City selects first developer of multi-family, affordable apartments DENVER, Co. – Mercy Housing SouthWest (Mercy) has been selected to develop affordable rental housing at Denver’s former Stapleton airport, now the site of the nation’s largest urban infill redevelopment. “Mercy’s selection marks a significant leap towards the City of Denver’s goal of adding to the current stock of affordable housing through the mix of housing that will be developed at Stapleton,” said Cherie Kirschbaum, President of Mercy Housing SouthWest. “We are thrilled to have the opportunity to partner with Forest City and the citizens of Denver to bring our high quality development and on-site programming to Stapleton.” “After an intense competitive process, Forest City has selected Mercy to receive the first two acres of land it will donate to non-profit organizations to provide affordable rental housing at Stapleton,” said Jacky Morales, Forest City’s Director of Housing Initiatives. “Mercy has brought together a strong team of architects and developers to design and build affordable housing that will add to the quality of life in the diverse urban neighborhoods now under construction at Stapleton.” “Mercy’s housing at Stapleton will set a high standard for affordable development and will make a difference in the lives of some of Denver’s low-income families,” said Jim Mercado, Housing Programs Manager for Denver’s Housing and Neighborhood Division. “The City of Denver is pleased that Forest City has selected a non-profit organization with a strong record of success in building high quality affordable apartment communities.” Mercy Housing’s development will include 50 to 68 affordable apartments. Odell Architects will design the property, closely following Stapleton’s design guidelines and the input of the Stapleton Citizens’ Advisory Board. Plans also include a community center with space for a computer laboratory and activities including after-school programs. With a Sam’s Club, Wal-Mart, and Home Depot slated to open at Stapleton this summer, there is no doubt that there will be opportunities for a reciprocal relationship between Mercy Housing and these major new employers. “It is important that Stapleton’s new employees in the service and retail sector also be able to call Stapleton home. This development will serve as a model for workforce housing,” said Kirschbaum. The 2000 Denver Metro Job Vacancy Survey found that 73% percent of all metro Denver job openings are in the service and retail industry, with an average hourly wage of $12.70 and yearly salary just over $26,000. While Denver’s average rent at $788 is nearly impossible for most service and retail employees to afford, rents at Mercy Housing’s Stapleton property will allow families at this income level to afford their home and leave them with income for resources that many low-income families can not afford because they pay such a large proportion of their housing on rent. Mercy Housing SouthWest creates and strengthens healthy communities through the provision of quality, affordable, service-enriched housing. Mercy Housing SouthWest has developed housing across Colorado – in Denver, Commerce City, Colorado Springs, Fort Collins, Fraser and Durango. Mercy Services Corporation, which manages Mercy Housing’s affordable apartments nationwide, will manage Mercy Housing SouthWest’s property at Stapleton. Mercy Housing, Inc., the national organization with which Mercy Housing SouthWest is affiliated, is also based in Denver. Since its founding twenty years ago, Mercy Housing, Inc. has developed over 10,000 affordable apartments and homes.