The Slifer, Smith & Frampton – Denver office has three incredible condos in Denver’s Affordable Housing Program. This is a great program set up to provide housing that is attainable for lower income individuals and families throughout Denver. It is a great opportunity to live in Riverfront Park for a significantly discounted price. A potential buyer would need to apply through the city by submitting their tax returns and current employment information. There are a couple of things to note about this program.
1. These homes can only be owner occupied. You cannot keep them as a rental after you move out.
2. The city sets the maximum sales price and maximum income levels. Typically appreciation is capped at 3% a year.
3. The deed restriction is for 20 years. After this time period ends, this home will come out of the program and be at fair market value.