Denver-based Mercy Housing Gets a New Affordable Home of Their Own
Mercy Housing, a Denver-based nonprofit that provides affordable housing nationwide, has moved their headquarters to 1600 Broadway. The organization’s new 36,341-square-foot office space seats nearly 200 employees, providing room for projected growth.
Cresa represented Mercy Housing, facilitating the entire process from site selection and transaction management, through to project and relocation management.
“Mercy Housing needed the best of both worlds, a centrally-located office space that would help them to attract and retain top talent, and to spend their budget responsibly as a mission-driven organization,” said Rick Door, managing principal at Cresa. “A long history of good credit meant that their lease would increase the value of the building, we used that as leverage to get them the best deal possible, saving nearly $2.5 million in the process.”
Oz Architecture designed the interior that pays tribute to the organization’s long-standing history, while giving employees the modern functional space they desired.
Mercy Housing had been in their previous space for 15 years. In the new space they signed an 11-year lease term, with an updated tenant improvement package and 13 months of free rent. The entire process from selecting a location through the move management took a total of 18 months.
“The new space represents a new chapter of growth for Mercy Housing,” said Kate Peterson, senior vice president of Marketing & Communications, Mercy Housing. “It has brought our team together and enhanced our culture of collaboration.”