Urban Land Conservancy (ULC) works to help make affordable real estate options available for the Denver Metro area and the greater Front Range. We acquire, develop, and preserve physical assets and partner with neighborhoods to help meet their critical community needs.
One of the many communities ULC is proud to partner with is Lakewood.
The Villas at Wadsworth
The Villas at Wadsworth Station is an affordable housing development that was previously owned for more than 20 years by 14 family members from California. When the owners sought to sell the property, they selected Urban Land Conservancy (ULC) due to our mission, dedication to long term affordability, and commitment to not displacing residents following the acquisition or during renovations.. Demonstrating this commitment, ULC created four temporary guest suites for residents to move into while work was completed in their homes, and worked with Rapid Restoration, the General Contractor for the development, to create a very fast renovation timeline, completing work within six days on four apartments at a time. In total, the restoration project only took 25 weeks to complete.
Further, after finding 14 residents were at risk of displacement due to the tax credit deal, ULC worked tirelessly to find a solution. Through determined negotiations, ULC was able to apply the 2019 tax code, which allowed for income averaging to the 2018 project to ensure no one was forced to move out of their home. ULC was the first entity in Colorado to use this tax structure for a development community.
During the rehabilitation efforts starting in 2017, ULC worked with a wide range of stakeholders to ensure it was a success. CHFA, Richman, FirstBank, Colorado Division of Housing, and Metro West supported the Low-Income Housing Tax Credit closing and continued to partner with ULC throughout the project’s completion.
Harlan Nonprofit Center, East and West
Harlan Nonprofit Center East was ULC’s second development in Lakewood. The 29,000 square foot nonprofit building is home to the Lutheran Family Services headquarters, which serves over 30,000 individuals annually, featuring a wide range of services. Harlan was also ULC’s first acquisition using the Metro Denver Impact Facility (MDIF), a revolving source of loan capital created to support ULC in preserving the affordability of housing, nonprofit facilities, schools, and community-serving space across Metro Denver and surrounding areas.
Harlan Nonprofit Center West is Urban Land Conservancy’s third development in Lakewood. The 26,000 square foot nonprofit building is home to Easterseals Colorado, a longstanding charitable organization founded in 1926, and is located adjacent to Harlan Nonprofit Center East.. The office building is less than one-half mile from two high-frequency bus routes and one mile from the Belmar Shopping District. Harlan West was ULC’s fifth property acquisition using the Metro Denver Impact Facility (MDIF).