Affordable Housing Development begins at Park Hill Village West
On September, 18th at 11am Mayor Michael B. Hancock will conduct the groundbreaking ceremony at Park Hill Village West. This momentous occasion marks the beginning of Delwest’s construction of 156 affordable housing units along the East rail line. Delwest is one of Urban Land Conservancy’s development partners and purchased 2.5 of the 9.4 acre site specifically to build this affordable housing complex.
In 2013, ULC purchased the acreage at Smith Road and Colorado Boulevard using the first Transit Oriented Development fund (TOD) in the country. The primary purpose of this acquisition was to ensure affordable housing along the East Rail Line which will provide transportation between DIA and Union Station.
Tony Pickett, ULC’s VP of Master Site Development, states, “This newest addition to ULC’s growing TOD portfolio is an outstanding example of how Denver continues to be a leader in smart development around stations, addressing the need for affordable housing and reduced transportation costs.”
This development was made possible by a vast array of community partners, including: Delwest, Colorado State Division of Housing, U.S. Department of Housing and Urban Development (HUD), Colorado Housing and Finance Authority (CHFA), Commercial Capital Corporation, Daniel G. Morgan & Associates, Inc., Wells Fargo, Citibank, the Office of Economic Development for the City and County of Denver, the Piton Foundation, Denver Housing Authority (DHA), and Gary Community Investment Company. The housing development is scheduled to be finished at the same time the rail line opens in early 2016.