After purchasing a one acre property at the Evans Light Rail Station a year ago using Denver’s Transit-Oriented Development Fund, Urban Land Conservancy today announced the sale of this site to Medici Communities for the development of affordable housing. Construction is expected to begin in a few weeks and will open for residents in Spring of 2013.
Since 2002, Medici has been constructing affordable housing developments to benefit neighborhood in metro Denver. This particular development, named Evans Station Lofts, will not only provide 50 workforce homes directly across from this busy RTD light rail station, it will provide an economic boost to the surrounding community. The project will be the first family low-income housing tax credits development at an existing light rail station.
ULC will use the proceeds from the sale to pay down the TOD Fund, making those funds available for additional TOD property acquisitions in Denver.