The City and County of Denver approved a $2.1 million loan agreement with Beeler Park Flats Owner, LLC, to finance the construction of 64 income-restricted multifamily housing units at 5601 N. Chester Way. The project, known as Beeler Park Flats, will be a 5-story residential building on a 2-acre lot. The 64 units will be income-restricted, with units designated for households earning 30%, 40%, 50%, and 60% of the Area Median Income (AMI). Specifically, the breakdown includes seven 30% AMI units, seven 40% AMI units, twenty-one 50% AMI units, and twenty-nine 60% AMI units. The loan is a non-recourse, 20-year loan with 1% simple interest. A Covenant running with the land for a minimum of 60 years will secure the property, ensuring long-term affordability. The development is also subject to various city and federal housing regulations, including accessibility and affirmative marketing plans.