The 0.86-acre property was sold to the City for $985,000. These dollars will pay down the TOD Fund, making the funds available for ULC to acquire additional real estate for the preservation and creation of affordable housing near transit. The remainder of the 2 acre site will include affordable housing developed by Del Norte Neighborhood Development Corporation who will construct a 60-unit workforce housing development, affordable commercial space and a daycare. ULC will build a commercial building once the library and housing components are constructed.
The new Denver Public Library is expected to break ground this summer and open in 2013. With the West Line corridor of FasTracks opening in 2013 as well, this catalytic development will surely bring an economic boost to the West Colfax area as these community assets benefit the neighborhood.