Multifamily Development In Denver CO Receives Backing From Urban Land Conservancy And U.S Department Of Housing And


Multifamily Development In Denver CO Receives Backing From Urban Land Conservancy And U.S Department Of Housing And

The Urban Land Conservancy, in partnership with the Piton Foundation and Gary Community Investment Co., City of Denver and U.S. Department of Housing and Urban Development recently purchased the largest land purchase in ULC history. The purchase of 9.4 acres at about $6 million will be used to develop 156 permanently affordable apartments and additional assets to benefit the community.

This is ULC’s largest acquisition using Denver’s $15-million Transit-Oriented Development Fund, the country’s first fund created specifically to preserve and develop affordable housing near public transit, according to a ULC statement.

The property, called Park Hill Village West, is located in an area of northeast Denver where many families lack access to affordable housing, high-performing schools and quality healthcare. Connecting affordable multifamily housing to public transit is a necessity for PHVW and the property is located at the 40th/Colorado station on the East rail line of FasTracks. The commuter rail travels through an area of Denver that Piton has targeted because the neighborhoods are home to nearly 35,000 children living in poverty.

RWA understands the importance of transit-oriented development. Visit the RWA Transportation Consulting page to learn more and continue the conversation. 

Denver skylineimage credit: MomentsForZen on flickr


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