Denvers successful Transit-Oriented Development Fund--which invests in projects that develop or preserve affordable housing along Denvers FasTracks--has its sights set outside CBD Denver. We spoke with Urban Land Conservancy's Christi Longsdorf, who tells us the fund (created by ULC, the City of Denver, and Enterprise Community Partners)is now looking to expand into a $30M regional fund to invest in properties outside of Denver.
Can you see your house from here? ULC's latest purchase (its eighth overall) using the TOD fund is also its largest: a 9.4-acre tract at Smith Road and Colorado Boulevard called Park Hill Village West, where the fund tapped a local developer to build a 156-unit affordable housing apartment complex near Colorado Station. This one were really excited about because of the size of it, Christi says.The initial fund is also almost completely allocated, having spent $13M of its $15M revolving credit. The remaining $2M will be spent on an unidentified TOD site sometime this year, Christi says.
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