The City and County of Denver is approving a $7.5 million loan agreement with 1625 Birch LLC for a term of 120 months. This loan will finance the acquisition of 194 income-restricted units located at 1625 and 1675 S. Birch Street in the Virginia Vale neighborhood. The project aims to convert the existing market-rate buildings into 100% affordable housing, leased to qualifying households. The Kentro Group is acquiring the two 12-story midrise apartment buildings on a 3.37-acre parcel. Built in 1972, the buildings are currently 91% occupied, with rents affordable to households earning 40%-50% AMI. The project includes 119 surface parking spaces and 147 underground parking spaces. The units are primarily one-bedroom (68%) and two-bedroom (32%). Rental and occupancy restrictions will be secured by a covenant running with the land for a minimum of 60 years.