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DENVER -- Affordable, but micro apartments, along with 10,000 square feet of retail space, are planned for a historic building on Broadway.
The building at 101 South Broadway was originally a hotel in the early 1900s. Over the years, it's been a Woolworth's, a Walgreens, and several restaurants, including El Diablo.
Friday, developers will remove the boards on the first floor and show off the progress they've made so far on the flooring and walls. However, the space won't be built out until an anchor tenant signs a lease.
"We're really looking forward to bringing new livelihood to the Baker neighborhood," Chris Schillinger, the Senior Project Manager at Zocalo Development said. "[We're] taking something that has been here a long time, and instead of knocking it down, we're rehabilitating it, and serving the needs of the community."
Zocalo plans to build 102 affordable housing units on the upper floors of 101 Broadway and a new building they added next door.
Prices for the 350-square foot apartments will run $900-$1000 per month.
Tenants will have to make 60 percent of the area median income or less. That means a single person will need to earn less than $37,800 a year.
"I think everybody who has walked by and seen it for years has asked, 'Why is it sitting here like this?' and so have we," Schillinger said. "It's going to be very exciting for everybody."
Schillinger said his company is excited about creating a really nice area for the city and South Broadway.
The building is set to be open for tenants next year.