November 2013 Update
The Staff and Board of Urban Land Conservancy hope you have a very happy and safe Hanukkah and Thanksgiving holiday! We are very thankful for such supportive and determined partners.
Thanks to an enormously engaged community who are willing to bring their voice to the table through the Holly Area Redevelopment Project (HARP), ULC continues to drive the redevelopment of Holly Square to fit into community needs and desires. ULC recently celebrated with the northeast Park Hill community on the progress of area redevelopment including the very popular basketball courts, outdoor gathering spaces, new Boys & Girls Club and upcoming projects.
Soon the Park Hill Shopping Center across the street will get a light face lift, and a creative walkway will be constructed to better connect Holly Square to the adjacent Hope Center.
NDC recently released a new 1 page report showing every 5 units of affordable housing built in metro Denver create approximately 5 construction jobs and 1 permanent job. For every 100 units (the average size of a typical affordable housing development) built, $11 million in construction-related income and $2 million in annually recurring income are earned in the local economy.
So what’s the overall economic impact of affordable housing in the Denver region? NDC, which produces approximately 40% of Denver’s affordable housing stock created 4,000 units between 2005 and 2013. That’s 5,030 construction jobs, 890 permanent jobs, $845 million in local income and $102.2 million in local taxes and fees to date.
In the words of Marvin Kelly, President of NDC’s Board, “Affordable housing, like functioning roads, rail, and utilities is a key part of any city’s economic infrastructure. Without it, a city cannot efficiently supply itself with the human capital it needs to thrive.
ULC considers ourselves quite lucky to announce that Rick Woodruff has joined our staff as accounting manager. Rick will be implementing ULC’s financial strategic plan, leading with his 30+ years of real estate and accounting experience to help guide financial activities.
Welcome to the team Rick!
In a recent site visit to Mile High Vista, ULC staff got a tour of the Avondale Apartments construction (thank you Del Norte). 80 new apartments, future Del Norte headquarters and a daycare facility are scheduled to open in fall 2014.
For 40 years now, NEWSED has been solving long-term economic problems in disadvantaged communities by securing and coordinating resources for neighborhood revitalization, developing needed shopping areas and services, fostering minority and neighborhood business ownership, job retention and creation, increasing home ownership and affordable rental opportunities, neighborhood organizing and hosting cultural events and activities.
Congratulations to the incredible team at NEWSED on 40 successful years!