Permanent affordable housing is coming to an area of Denver that has seen great change over the past several years.
The Urban Land Conservancy (ULC), in partnership with Medici Consulting Group (MCG), will break ground on the development of 66 new, permanently affordable homes at the intersection of Denver’s Cole, Five Points and RiNo neighborhoods.
The plot of land where the development will be constructed will join ULC’s growing Community Land Trust (CLT), “ensuring the housing remains permanently affordable through a 99-year renewable ground lease,” Christi Smith, a spokeswoman for ULC, said in a news release.
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The Walnut Street Lofts, as the development is called, will be adjacent to the A-Line’s 38th and Blake Station – offering not only housing to residents, but permanent affordability as well as connection to jobs and other services through direct access to public transit, something Denver Mayor Michael Hancock called a “triple win for our community and hard-working families,” in a prepared statement obtained by Denver7.
“As the 38th and Blake Station takes shape as a prime example of transit-oriented development, today’s groundbreaking will help to ensure that the residents here continue to have access to the equity and opportunity they need and deserve,” Hancock said in prepared remarks before the groundbreaking ceremony.
Read the full story on thedenverchannel.com.
