Land for Denver Affordable Rental Sold by Urban Land Conservancy

A mixed-use, transit-oriented development featuring 50 workforce-housing apartments will be coming soon to Denver, as a result of the sale of property at Denver’s Evans Light Rail Station by Urban Land Conservancy (ULC). ULC purchased the one-acre property in June 2011, using Denver’s Transit-Oriented Development (TOD) Fund, a $15 million fund created the previous year to preserve land near transit stations for affordable housing development. The new five-story development will be called Evans Station Lofts, and will offer 7,100 square feet of commercial/retail space in addition to the apartments. It is slated to break ground this month, and welcome residents in spring, 2013. Households earning 30 to 60 percent of Area Median Income (AMI) will be eligible to live at Evans Station Lofts. Some 60 percent of low-income household outflows are the result of housing and transportation expenses, ULC reports. That burden will be eased for low-income families residing at Evans Station Lofts, because residents will enjoy ready access to transportation, jobs, education and additional services.

Multi Housing News

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