Denver City Council rejects rezoning for Denargo apartment project with income-restricted units

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The property at 3275 Denargo St. is currently home to LoDo Self-Storage. (Credit: BusinessDen)

DENVER (BusinessDen) — Denver City Council on Monday narrowly rejected a requested rezoning needed for a developer’s planned massive apartment project at the edge of RiNo.

Texas-based Cypress Real Estate Advisors wanted to build two 12-story buildings with 650 combined units at 3275 and 3315 Denargo St., and agreed to restrict 10 percent of the units to those making up to 80 percent of the area median income.

But the majority of those who voted against the rezoning said that amount of so-called “affordable housing” just wasn’t enough.

“I do not believe it is consistent with our planned goals, especially around equity and housing and health and safety and connectivity,” said Councilwoman Candi CdeBaca, who represents the district where the properties lie.

The two parcels, which add up to 3.8 acres, are currently home to a single-story warehouse building and a self-storage facility. Cypress doesn’t own the property, but is under contract to buy the site, which is currently zoned for industrial use.

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