Construction begins on 92-unit income-restricted condo building in Lincoln Park

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A five-story condo building in Lincoln Park that will be restricted to those earning up to 80 percent of the area median income has broken ground.

A groundbreaking ceremony was held last week for La Tela, which is going up at 603 N. Inca St., a corner lot along 6th Avenue. The project is being developed by the Elevation Community Land Trust and Shanahan Development; the Urban Land Conservancy is also involved.

La Tela will feature 64 studios, 24 two-bedroom units, and four three-bedroom units, ranging in size from 352 to 1,050 square feet. It also will have some ground-floor commercial space.

All the units will be reserved for buyers making up to 80 percent AMI, which currently translates to $54,950 for a single-person household or up to $78,500 for a four-person household. Initial pricing for the units ranges from $149,900 to $199,900.

Click to read the entire article on the Denver Business Den

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