{"id":1004052752,"date":"2012-06-07T06:46:33","date_gmt":"2012-06-07T14:46:33","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=51453"},"modified":"2020-04-13T08:12:51","modified_gmt":"2020-04-13T16:12:51","slug":"transit-oriented-affordable-housing-development-to-break-ground-at-evans-light-rail-station","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/transit-oriented-affordable-housing-development-to-break-ground-at-evans-light-rail-station\/","title":{"rendered":"Transit-Oriented Affordable Housing Development to Break Ground at Evans Light Rail Station"},"content":{"rendered":"

By Gabriel Circiog, Associate Editor<\/p>\n

The Urban Land Conservancy has sold a parcel of land at the Evans Light Rail Station for the construction of a mixed-use, transit-oriented development. \"\"<\/a>The one-acre property, located along Denver\u2019s Southwest light rail corridor at 2140 S. Delaware St., was originally acquired by the ULC in June 2011 through Denver\u2019s Transit-Oriented Development Fund.<\/p>\n

The $15 million TOD Fund was created in April 2010 to preserve land in proximity to transit stations for future affordable housing development.<\/p>\n

Medici Communities LLC will be the developer of the Evans Station Lofts\u2014a five-story development that will feature 50 apartments and 7,100 square feet of commercial\/retail space. The Colorado Housing and Finance Authority awarded low-income housing tax credits to Medici Communities for the project in 2011.<\/p>\n

The development, which is scheduled to break ground this month, will offer affordable homes to families with incomes ranging from 30 to 60 percent of the Area Median Income.<\/p>\n

ULC\u2019s President & CEO Aaron Miripol said: \u201cULC purchased and held a terrific site in an underutilized area for an experienced development partner to bring a high-quality residential building. It is rare that we see this kind of lead-in development at an existing station site.\u201d<\/p>\n

The announcement came just days after the ULC sold a 0.86-acre parcel of land at West Colfax Avenue and Irving Street to the city and county of Denver for the development of a new public library. The property was sold for $985,000, which will be added to the TOD Fund for acquiring and preserving additional real estate properties.<\/p>\n

Illustration Courtesy of: www.urbanlandc.org<\/em><\/p>\n

For more market data on Denver, please click here<\/strong><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Gabriel Circiog, Associate Editor The Urban Land Conservancy has sold a parcel of land at the Evans Light Rail Station for the construction of a mixed-use, transit-oriented development. The one-acre property, located along Denver’s Southwest light rail corridor at 2140 S. Delaware St., was originally acquired by the ULC in June 2011 through Denver’s […]<\/p>\n","protected":false},"author":1269,"featured_media":1004507391,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1587,21742],"tags":[1815],"class_list":["post-1004052752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-denver","category-latest","tag-national"],"acf":[],"yoast_head":"\nTransit-Oriented Affordable Housing Development to Break Ground at Evans Light Rail Station - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/transit-oriented-affordable-housing-development-to-break-ground-at-evans-light-rail-station\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Transit-Oriented Affordable Housing Development to Break Ground at Evans Light Rail Station\" \/>\n<meta property=\"og:description\" content=\"By Gabriel Circiog, Associate Editor The Urban Land Conservancy has sold a parcel of land at the Evans Light Rail Station for the construction of a mixed-use, transit-oriented development. 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