DENVER — Dozens of families gathered at the 1371 Xenia Street Apartments Saturday morning to celebrate the purchase of the property by the East Colfax Community Collective (EC3), a nonprofit organization that works to help families by providing affordable housing.
The 23-unit apartment building, located on the East Colfax Corridor, is the country’s fifth mixed-income neighborhood trust (MINT). The MINT will own and manage the building and cap rent prices to protect low-income residents while renting some apartments at market rates. The MINT is the first in Colorado.
“Nothing is more durable than community ownership,” said EC3’s MINT Director Carson Bryant.
Bryant argued that the new affordable housing model will help prevent family displacement. Many of the residents on 1371 Xenia Street are low-income refugees or immigrants. With rising housing prices across Colorado, Bryant said keeping their rent stable is crucial.
“This is still an outpost of affordability,” said Bryant. “A really strong and …