By Christi Smith July 11, 2012
Last week ULC celebrated independence day with a new property acquisition. The 11th Avenue TOD was purchased for $350,000 using Denver’s Transit-Oriented Development Fund.
The .83 acre property is located less than 1/4 mile from the future Sheridan Station on the West Line corridor of FasTracks and will be developed into 58 affordable senior homes. ULC will partner with Rocky Mountain Communities who will manage the design and construction of this 5 story development.
These homes will serve seniors between 30% and 60% of the Area Median Income (family of 2 with an income of between $19,050 – $38,100). This projected $10million development will compliment the redevelopment of the Sheridan Station area which will include an 800 car parking garage, 200 housing units and commercial and retail space.
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