Renaissance Downtown Lofts
Provider: Colorado Coalition for the Homeless
Location: Denver, CO
Property Type: Family Housing
Description: Thanks to our partners, Renaissance Downtown Lofts opened on May 31, 2018. We are proud to be a part of the project. Affordable, service-enriched housing helps low-income families support themselves, and this allows communities to prosper. Mercy Loan Fund collaborated with the Denver Social Impact Bond (SIB) project, providing a predevelopment loan to the Colorado Coalition for the Homeless for this development.
In 2017, there were 5,116 people experiencing homelessness counted in the Denver metro area — 18% (924 people) were unsheltered. There is no perfect solution to end homelessness, but a pilot in supportive housing is beginning to pay off for Denver, people experiencing homelessness, and a group of investors concerned about social impact. The Denver Supportive Housing SIB project aims to support people struggling with homelessness, substance use, and mental health problems. To break the cycle of homelessness-to-detox services, Denver’s initiative provides affordable housing combined with intensive wraparound services, like case management, healthcare, and mental health treatment. By providing housing first participants can concentrate on improving sobriety and personal growth rather than toiling over where they’ll spend the night.
Renaissance Downtown Lofts provides 101 units of housing for people experiencing chronic homelessness that have been frequent users of high-cost, taxpayer-funded services, including courts, jail, detox, and health services. In addition to housing, residents receive support services designed to assist homeless individuals in obtaining and maintaining permanent housing. Case managers and counselors help residents maximize their self-sufficiency by addressing the underlying illness and causes of their homelessness and increasing their life skills.