“The purpose of the Denver TOD Fund is to support the creation and preservation of over 1,000 affordable housing units through strategic property acquisition in current and future transit corridors. The partners in this effort recognize that now is the opportune time to invest in real estate around proposed transit stations in order to capitalize on current values and preserve affordable pricing before the FasTracks light rail is fully operational.
The current fund will revolve to make up to $25 million in capital available to purchase and hold sites for up to five years in anticipation of the opening of new transit stations. The investment of $25 million will leverage over $100 million in local economic development activity, serving many of Denver’s lowest income neighborhoods with construction and permanent job creation. The Fund will also directly benefit low-income households that on average spend 60% of their gross income on housing and transportation expenses combined. By controlling these expenses and providing access to quality, environmentally-sustainable housing, the TOD Fund will make it possible for families to build wealth, and access employment and educational opportunities; it will provide employers with access to an expanded workforce.”