Neighborhood Stabilization Program (NSP) through Neighborhood Development
The Urban Land Conservancy (ULC) is proud to be a partner in implementing the Neighborhood Stabilization Program (NSP) in the City of Denver. NSP is a federal program established to stabilize communities that have suffered from foreclosure and property abandonment. To this end, the goal is to purchase, redevelopment, and provide affordable housing through both rental and for-sale opportunities to low, moderate, and middle income households. Additionally the program allows foreclosed properties to be land banked in order to create affordable housing in the future.
The Economic Impact of Our Work
Neighborhood Development Collaborative is comprised of nine Denver-based nonprofits providing a variety of housing counseling and economic development including creating affordable housing for low and moderate income persons and developing commercial office space for non profits and other users. Members include Colorado Coalition for the Homeless, Colorado Housing Assistance Corp., Del Norte Neighborhood Development Corp., Denver Housing Authority, Denver Urban Renewal Authority, Habitat for Humanity Metro Denver, NEWSED Community Development Corp, Northeast Denver Housing Center, and Urban Land Conservancy.
We strive to initiate and support community development that can be replicated throughout the City and metro region. Additionally, we promote and enhance public awareness of the need for and nature of housing and related services for Denver’s most at risk residents.
Our members have a storied history of creating affordable housing, commercial space, and providing housing counseling. Since our members have started serving Metro Denver, we have created nearly 11,000 affordable homes, developed over 1 Million square feet of commercial space, served about 200,000 people, and made real estate related investments surpassing $950 Million. We are also responsible for implementing a portion of the federally-funded Neighborhood Stabilization Program (NSP), which was established to acquire, redevelop, and resell foreclosed properties that might otherwise have been sources of abandonment and blight. To date, we have invested over $24 million in 129 single family and 149 multifamily homes. Eighty-eight single family homes, nearly 70% of the foreclosed homes purchased with NSP dollars, have already been resold to qualified families. The multifamily homes have been renovated to provide quality places to raise families for low and moderate income earners.
Below is a summary of the Neighborhood Development Collaborative real estate investments in Metro Denver for the last 9 years, from 2005-2013:
- • Produced 4,000 affordable and workforce apartment & single family homes
- • Developed over 550,000 square feet of office space for non profits and other users
- • Touched over 95,500 people in Metro Denver through housing and counseling
- • Invested over $660 Million in real estate and housing programs.
- • Over 400 units added in 2013
For a summary of the economic impacts of NDC’s affordable housing production (jobs created, etc.) in Metro Denver, click here.
Note: The work that provided the basis for this publication was supported by funding from the Ford Foundation and under an award with the U.S. Department of Housing and Urban Development through Enterprise Community Partners. The substance and finding of the work are dedicated to the public. The author and publisher are solely responsible for the accuracy of the statements and interpretations contained in this publication. Such interpretations do not necessarily reflect the views of the Ford Foundation, Enterprise Community Partners, or HUD.
The Colorado Coalition for the Homeless
-Bill Windsor, Director Housing Development
Del Norte Neighborhood Development Corporation, Inc.
-Marvin Kelly, Executive Director
Housing Authority of the City and County of Denver
-Ismael Guerrero, Executive Director
NEWSED Community Development Corporation, Inc.
-Veronica Berela, Executive Director
Northeast Denver Housing Center, Inc.
-Getabecha Mekonnen, Executive Director
Urban Land Conservancy
-Aaron Miripol, President/CEO
-Debra Bustos, Director of Real Estate
Colorado Housing Assistance Corporation
Denver Urban Renewal Authority
Habitat for Humanity Metro Denver
-Heather Lafferty, Executive Director/CEO