HUD hands over $130M construction loan for Denver VA hospital adaptive reuse
A rendering of the planned redevelopment of the former Denver VA hospital campus at 1055 Clermont Street.
GM Development has secured $130 million in HUD financing, arranged by Walker & Dunlop, to launch the adaptive reuse of the 10-story former VA hospital building at 1055 Clermont Street. The project will convert the historic structure into 493 apartments with ground-floor retail, with roughly 8% of the units reserved for households earning 60% of AMI or below. This is the first phase of a broader master plan to deliver more than 1,400 residential units, plus retail, medical office, and a public atrium opening onto East Ninth Avenue, on the 8.3-acre campus GM Development acquired in 2022.