West 38
Published Monday, August 1, 2022
ABOUT THE PROJECT
- Project Type: 4-story multifamily and mixed-use development;165 apartments
- Unit Size: 838 sq.ft./unit
- Location: Wheat Ridge, CO
- Certification: NGBS Green Certification – Silver Level (Mar 2020)
- Website: West 38
Download Full Case Study as PDF
VERIFIER VOICE
"It's exciting to be involved in one of the first projects in this area specifically designed to revitalize the community, and one that acted as a catalyst for further development. It's very rewarding to be part of a team whose goals are focused on sustainability and improving the neighborhood and quality of life for city residents."
- Sarah Hong, NGBS Green Verifier, Group14 Engineering
Overview
West 38 is a 165-unit multifamily mixed-use development which took advantage of the HUD financial incentives to aid in the expansion of the up-and-coming city of Wheat Ridge, Colorado. The building showcases a variety of green features, including low-flow fixtures, ENERGY STAR appliances, and smart irrigation controls, as well as future-proof design choices, namely electric vehicle charging stations and a solar-ready roof. These design choices earned the building eligibility for financing through HUD's Green Mortgage Insurance Premium (MIP) Reduction, an incentive offered by HUD to promote green building. For West 38, the savings resulted in about $90,000 annual MIP savings for the life of the loan, or approximately $3.6 million and an ROI of 2,000%! With the savings from green building features and the Green MIP Reduction incentive, the advantage of green building is more pronounced.
Green Features/Practices:
- Development financed through HUD's MULTIFAMILY RENTAL HOUSING FOR MODERATE-INCOME FAMILIES (section 221(d)(4)) program
- Low slope infill lot construction zone and sediment and erosion control implementations to reduce the environmental impact of construction
- Mixed-use building in a walkable community near many community resources, retail, and restaurants which reduces auto dependence and carbon emissions
- Electric car charging stations, bike storage rooms and repair stations, and structured garage
- Energy-efficient practices, products, and systems such as occupancy sensors, to attain energy efficiency 20% above IECC 2009 code
- Low-flow water fixtures, smart irrigation controls, and ENERGY STAR appliances to use less water
- Resilient flooring tile and low-emission cabinets, insulation, and carpet materials were installed to promote better air quality
A BETTER PLACE TO CALL HOME
"All new construction projects undertaken by our company, Wazee Partners, pursue and achieve a green building certification. Not only is green building a standard for new construction, achieving a green building certification is not meaningfully more expensive from a construction cost standpoint. Combine the construction cost neutrality with projected energy savings and financing incentives and the case for green building is clear. Apart from cheaper energy bills for the residents, the community is a healthier place to live, and the construction process is more sustainable."
- Tyler Downs, Principal, Wazee Partners
About Wazee Partners
Wazee Partners is a full spectrum real estate development, ownership and management company specializing in multifamily, mixed use, senior housing, and retail properties. Their 40+ years of combined real estate experience allows them to provide innovative real estate solutions on behalf of their investors, partners and clients. Their suite of services include direct development, acquisitions, public/private partnerships, fee development and consulting.
About Wheat Ridge, Colorado
Wheat Ridge is a relatively young city, incorporated in 1969, located in the greater Denver metropolitan area which grew from a stop-over town from the gold rush of the late 1850s. Despite growth in the nearby Denver metro area, Wheat Ridge experienced a population decline between 2000 and 2010 Census. To address the need for more housing and development, the city of Wheat Ridge commissioned a plan in 2008 – and approved it 2009 – to address the needs of the city through sustainable design and construction and improve walkability and public transit for residents. The West 38 development is one of the first structured parking facilities – and the first market-rate mixed-use building in Wheat Ridge since the early '90s - designed to meet the goals of the city. This project aims to bring the growth seen in Denver's metro area to Wheat Ridge and contribute to the expansion of the city through sustainable design.