Urban Land Conservancy plans apartment complex
“ULC used $3.7 million in financing from the City of Denver’s $15 million Transit-Oriented Development Fund to help fuel affordable housing development near public transportation, and partnered with the Piton Foundation and Gary Community Investment Co. on the $6 million land purchase. It’s called the Park Hill Village West and is located near Smith Road and Colorado Boulevard.
The site is near a future commuter rail station on 40th Avenue and Colorado Boulevard for the Regional Transportation District’s East Line, which will run from downtown to Denver International Airport and is expected to open in 2016.
“Not only will 156 new affordable homes be built at this rail station, ULC sees this as a model for community-driven real estate development,” Debra Bustos, director of real estate for ULC, said in a news release.”
Huspeni, Dennis. Denver Business Journal 18 March 2013.