Sep 23Home Again at Holly Park
If you have ever lived through a home improvement project, you understand the excitement residents are feeling at Holly Park Apartments now that renovations are complete! Today, they’re enjoying their newly renovated homes.
After a two-year renovation, Holly Park Apartments in Commerce City, CO, celebrated its new look last month with a rededication ceremony, ribbon cutting, and property tour. Holly Park Apartments was built in 1975 and is home to over 400 residents, including 230 children. The 168 homes were revamped and refreshed with new flooring, kitchens, bathroom cabinets, countertops, and windows. Neutral finishes were selected to give the units a modern, updated look that is sure to endure the test of time. Additionally, the buildings’ mechanical systems, electrical, heating system, exterior were also updated to improve the overall building efficiency; this allows for more comfortable spaces at a more affordable price for residents.
It was an enormous undertaking and Mercy Housing Mountain Plains (MHMP) could not have done it without a few key partners. MHMP partnered with Bellwether Enterprise, US Bank, Interstate Restoration, Cornerstone Construction, and Studio Completiva. The National Affordable Housing Trust (NAHT) was our consultant and syndicator, and we utilized the NAHT Strong Families Fund (SFF) to support this project, with Goldman Sachs as the investor. The SFF is a ten-year initiative designed to demonstrate and allow us to learn from the impact of Resident Services to deliver real and lasting results for residents. When a resident finds success, whether that’s a new job or enrollment at a university, we want to learn about how we can make that happen for even more residents.
“The main purpose of The Strong Families Fund is to stimulate and support innovate strategies to design, deliver, and measure the impact of Resident Service Coordination for families. In return, developments must provide onsite social-service coordination targeted to improving resident and property outcome measures in five areas, including health and wellness, housing stability, and education.” (https://www.naht.org/news/strong-families-fund)
Melissa Clayton is Mercy Housing’s Senior Vice President of Portfolio Management and was instrumental in the renovation process. “We are grateful to have the support to be able to renovate and extend the life of the existing homes for the residents at Holly Park. NAHT was a great partner and resource, providing creative financing solutions like the Strong Families Fund,” said Melissa.
As real estate and housing costs continue to climb in the area, these new improvements to Holly Park speak to Mercy Housing’s continued dedication to residents. MHMP has set an example, preserving this community is a true testament to their dedication to building hope through homes.