Canterbury East & South

Grovewood acquired these two separately owned apartment properties located north and south of a large community park and joined them into a single financing structure. Canterbury East and South Apartments offer rents affordable to those earning less than 60% of Area Median Income (AMI), providing essential affordable housing in Englewood. Both properties required significant repairs and updates, including extensive asbestos abatement. One building required substantial health and safety repairs, including complete replacement of two exterior walkways and the main water pipes plus the addition of firewall protection. Grovewood also updated these multifamily properties with attractive exteriors and site and wayfinding improvements. In conjunction with the renovation permitting process, Grovewood successfully worked with the local municipality to accomplish revision of an antiquated zoning code that previously discouraged renovation of multifamily properties in the city to further facilitate investment in valuable existing affordable housing stock.