Building Stronger Neighborhoods through
Real Estate Investment,
Development and Preservation
At The End Of 2015…
ULC has invested nearly $68 million in community real estate, leveraging $115M in development of affordable housing and nonprofit facilities. Our current master site and vacant land investments will generate an additional $300M+ of place based community development.
As Master Developer
- With support from the Denver Office of Economic Development, ULC acquired Race Street TOD, a 6 acre property in the Elyria Swansea neighborhood located at 4th and Race. The site is only 2 blocks from the Western Stock Show redevelopment and the future North Rail Line Station. Future develop- ment will include affordable housing and commercial space.
- Park Hill Village West planning continued through the construction of Phase 1 of development with development partner Delwest, who will celebrate the grand opening of 156 permanently affordable units in February 2016. The next phase of planning commenced with a private development partner for additional rental housing as well as commercial and community space. This master site sits adja- cent to the Colorado station on the A Line commuter rail, providing residents with access to jobs, edu- cation and health services.
- ULC began planning for the 303 ArtWay, a public art themed bike/pedestrian trail to better connect the greater Park Hill community to the A Line. The creation of this new community asset was kicked off through a $250,000 grant from ArtPlace America.
Transit Oriented Development (TOD)
- ULC acquired a 2 acre site adjacent to our 1 acre property at the Sheridan Station on the W Line. With a larger development footprint, ULC plans to increase density at the site which will include affordable housing and other uses for community benefit.
- Partners Mile High Development and Koelbel and Company broke ground on the Garden Court Apartments at Yale Station in early 2015, 66 new affordable housing units will provide housing options at the Yale rail station in spring 2016.
- ULC received approval for the construction of a new elevator at the Mountain View Nonprofit Tower, this new ADA compliant elevator will provide safer access to more than 1000 individuals receiving services in the building every month. Colorado Construction Institute (a tenant at Tramway Nonprofit Center), is working with ULC in the redevelopment of 2 floors of the building in order to create an open, shared space working environment for nonprofits.
- ULC completed a $3M refinancing of the Social Enterprise Foundry, a nonprofit warehouse in Sun Valley using the Calvert Facility Fund as part of the Ours to Own Initiative, fully deploying the $10M Fund in only one year. Mountain View Nonprofit Tower and Race Street TOD are the other properties in the Ours to Own portfolio.
- ULC released a report, “A Partnership to Uplift Aurora’s Teen Parents,” demonstrating the need for a Charter School Facility Fund using the construction of New Legacy Charter School as an example. This report is one of a three part series which showcases how ULC’s work in school facility preservation and development has been instrumental in highlighting the need for a new resource in the Denver region.
As a Real Estate Steward
- The next phase of development was identified through a community process at Holly Square. Roots Elementary School will construct a new school facility in 2016, opening in time for the 2016-2017 school year. ULC has a 99 year land lease agreement with Roots to ensure the property will provide community benefit for generations.
- ULC entered into a ground lease for a planned affordable housing development at Blake Station on the A Line with partner Medici Communities. This 99 year land lease was critical in keeping the development affordable and providing office space for nonprofits a this strategic location along the rail corridor scheduled to open April 22, 2016.
- ULC successfully completed the construction of New Legacy Charter School in time for their August 2015 opening! This incredible school is educating pregnant and parenting teens while providing a childcare/preschool for babies and children through kindergarten. This incredible project is ULC’s first investment in Aurora.
- As a member of Mile High Connects and Westwood Unidos, ULC celebrated the success of these collaborations in the extensive work around affordable transit fares and reinstating a key bus route in the Westwood neighborhood.
- In addition to improving tenant relations and operations at ULC nonprofit facilities, Denver Shared Spaces, a partnership with the Denver Office of Strategic Partnerships, successfully completed the competitive Social Enterprise Exchange to create a business model that would expand services offered to nonprofits in the Denver region.
- ULC produced the latest affordable housing report, estimating the economic impact of affordable housing at transit oriented development in Metro Denver brings over half a Billion dollars to local economy in a 5 year period. This is the third report ULC has produced in partnership with the National Association of Home Builders.