It’s officially spring, although it doesn’t look like it. While it appears we are still deep in the dormancy of winter, buds are preparing to bloom just under the surface of the snow.
It’s also a new season in terms of the way most of us now have to work to minimize the spread of COVID-19. ULC is no exception as our staff have moved to working remotely. Yet, while we are not in the office, we are adopting new methods of communicating and connecting. Communities at risk are even more at risk in volatile times and that is why we are continuing to work hard to maintain the progress on our many real estate projects while supporting our tenants and communities during these challenging times.
The following are a few updates:
Sheridan Station Lofts (133 permanently affordable apartments) by Mile High Development and Brinshore just topped off the 8th floor this week and is currently on schedule to open in five months under a 99-year ground lease with ULC.
Our development partner, Medici, continues to move forward on Walnut Lofts with a goal of completing construction of their 66-unit permanently affordable apartment development this June. ULC community relations team staff is working with community members to submit housing applications as soon as they are available (projected for mid-May).
We are finalizing a contract on East Colfax to purchase 81,000 sq. ft. of land with two buildings on the property. ULC will own the land in a 99-year land lease, while the buildings will be renovated as a community hub for nonprofits and mission-based organizations.
At our Commerce City property, Adams Tower, we are actively negotiating a long-term affordable lease with two nonprofit health care providers for children.
With an eye for the future and understanding the challenging times we have entered, ULC just closed on our second CHFA loan supporting our Metro Denver Impact Facility (MDIF). This critical support will allow us to acquire and preserve real estate for permanently affordable housing, nonprofit facilities, schools and community-serving spaces across Metro Denver.
These are just a few of the projects that ULC staff and our dedicated Board will forge ahead on. We encourage everyone to practice self-care at this time and make yourselves aware of resources that are being made available. A list of helpful links can be found on our website.
We will continue to update the community on our progress. Please feel free to reach out with any questions you may have.
President & CEO
Urban Land Conservancy