Urban Land Conservancy Brings Over $70,000,000 in Economic Investment to Metro Denver’s New West Rail Line
“The Urban Land Conservancy’s (ULC) investment along a new, 12-mile light rail line will ultimately bring more than $70 million in development value to the area, 600 units of housing including 400 affordable units, over 50,000 square feet of commercial space, a new Denver public library and 500 jobs.
On April 26, 2013, the Regional Transportation District’s (RTD) West Rail Line of FasTracks will open.
Known as W Line, it will connect downtown Denver, Lakewood and Golden, transforming the way people live, work and make regional connections. ULC has been buying land and properties along the W Line for over six years, knowing that affordable housing and other community assets are critical components of successful public transit build out.
FasTracks is the largest transit expansion program in the nation. The country’s first Transit-Oriented Development (TOD) Fund was created by the City of Denver, Enterprise Community Partners and ULC and became operational in 2010 to support ULC’s purchase of properties at transit stations to preserve or create affordable housing. ULC utilized the $15 million TOD Fund to purchase two of the four properties they own along the W Line. “
Urban Land Conservancy. PR News Wire 26 April 2013.