ULC Acquires Land for Permanent, Affordable For-Sale Development in Santa Fe Arts District
In partnership with Shanahan Development LLC and Elevation Community Land Trust (ECLT), Urban Land Conservancy (ULC) purchased an 18,000 square foot site located in Denver’s Santa Fe Arts District for the development of affordable for-sale homes. The $1.8 million acquisition will support a mixed-use development, with commercial space and 92 for-sale condominiums, with at least 86 permanently affordable units for households earning $40,000 to $72,000 in annual income.
Inca Commons will be developed by Shanahan Development, providing homes for individuals and families earning up to 80% of the Area Median Income (AMI) and will include studios, two- and three-bedroom units as well as 4,000 square feet of commercial space. The development is expected to break ground in the third quarter of 2019, with units expected to be available for purchase in late 2020.