Archway Converts Shuttered Denver College Dorms into Affordable Housing

Archway Communities paid $13 million for four shuttered college dormitories from a college that recently closed its doors, and plans to convert them into apartment units. Johnson and Wales closed its doors in 2021 and left a significant amount of real estate behind.

Archway will alter the four buildings so that it will be able to reconfigure 154 dorm rooms to convert them to apartment units ranging from studio to three bedroom options. The units will be available for those earning between 30-60% of the Areas Median Income.

Archway estimates it will cost $67 million to convert the units. Hudson Housing and Chase Community Capital came up with $34 million in tax credits for the project. Boston Capital, Western Alliance Bank and a number of government agencies came up with $27 million. Archway will collaborate with a number of area non-profit groups to provide innovative programming for the tenants.