Strengthening Five Points Through Partnership

Strengthening Five Points Through Partnership

Hope Communities is grateful for a collaborative effort that will bring long-term revitalization and sustainability to a key property in the Five Points neighborhood.

After years of planning and community engagement, Hope partnered with Goshen Development to transition ownership of a landmark mixed-use property at 2550 Washington St. This step allows for a new, more sustainable model that preserves affordable housing while supporting future investment in the building and surrounding community.

Originally developed by Hope Communities in 2002, the property includes affordable rental units, privately owned condominiums, and commercial spaces. While innovative at the time, the original structure proved difficult to sustain long term. Over the years, Hope invested significant resources to maintain the property, but a new approach was needed to ensure its future.

Through a collaborative process involving community stakeholders and partners like Colorado Housing and Finance Authority and the Denver Department of Housing Stability, a path forward emerged. Goshen Development was selected to lead the next phase, bringing a strong commitment to affordable housing and neighborhood investment.

Planned improvements include building upgrades, reconfiguration of residential units, and long-term affordability protections, alongside continued activation of ground-floor commercial space that serves the community.

Hope Communities will remain active in Five Points through continued housing and supportive services, including at Carolton Arms Apartments. This partnership represents a shared commitment to preserving the cultural and economic vitality of the neighborhood while ensuring it remains accessible for future generations.