Amid Denver’s Sky-High Real Estate Costs, Urban Land Conservancy Helps Nonprofits Stay Grounded
Denver, CO—Yurima Crowley vividly remembers the day she received a startup loan from CEDS Finance. She owns I Love ME Gems, a unique jewelry business that empowers and engages immigrant women in Aurora, Colorado, by providing them with the opportunity to co-create and sell jewelry. That startup loan was the financial boost that allowed her to transform her passion into a thriving business.
“I started I Love ME Gems to help immigrant women like me become financially independent,” said Yurima. “I was taking a business class with Mi Casa Resource Center. They were super helpful, and after finishing that class, they told me, ‘You are now ready to take a loan. Let’s go to CEDS.'”
CEDS Finance is vital in supporting small business owners like Crowley, providing them with the necessary capital to kickstart their entrepreneurial dreams. Behind the scenes, CEDS Finance gets its own form of support by leasing its office space at a rate that’s increasingly hard to come by on the Front Range.
During Denver’s affordable real estate crisis, Urban Land Conservancy (ULC) is making a significant impact by helping community-based nonprofits stay rooted in the neighborhoods they serve. With the rapid gentrification of metro area neighborhoods, these organizations often find themselves priced out of the communities that rely on their services.
In 2023, for example, ULC estimates that its discounted leasing rates for its mission-minded tenants saved more than 50 Denver-area nonprofits a total of $2.2 million in rent compared to market-rate leases, based on available data. The savings are made possible through ULC leases that average 30% below market rate for non-residential buildings, including office spaces and educational facilities.
Denver’s affordable real estate crisis has far-reaching implications, particularly for nonprofits essential to their communities’ social fabric. As rent costs soar, many of these local organizations face the harsh reality of displacement, threatening the continuity of services that many vulnerable residents depend on. ULC’s strategic interventions ensure these nonprofits can maintain their operations and serve their communities effectively.
“Our target market has definitely been the northeast corridor [of Colfax Ave.], so being located here has certainly helped,” said Flaubert Toulaboe, investment officer at CEDS Finance. “Having a space as big as the one we have that’s affordable has been huge in helping our target market.”
Alex Wise, executive director of CEDS Finance, emphasizes that the benefits extend beyond financial relief. “Rent is one of our largest fixed expenses. So, our savings from lower rent can immediately go to personnel,” said Wise. “So, the fact that you have ULC that’s available to local nonprofits – to get that subsidized rent is really beneficial because how else could you save on such a long-term expense?”
On the other side of Aurora, at ULC’s Oxford Vista campus, the nonprofit Family Tree provides services to those affected by child abuse, domestic violence, and homelessness. Dontae Latson, CEO of Family Tree, acknowledges the impact of ULC’s leasing model.
“The high cost of real estate in Denver was becoming a barrier for us,” said Latson. “ULC’s assistance has been invaluable in keeping our programs running and accessible to the people who need them most.”
ULC Chief Operating Officer Aaron Martinez affirms ULC’s goal to help nonprofits stay rooted in the communities they serve by offering below-market leases.
“This support allows them to continue providing essential services without the constant fear of being priced out, Martinez said. “We’re not just providing space – we’re preserving the vital services that sustain neighborhoods throughout metro Denver.”
Head to our Office Leasing page to learn how your nonprofit could receive low-cost leasing when making a home within one of ULC’s nonprofit hubs.
