A Regional Transportation District (RTD) parking lot adjacent to the L light rail line in Five Points will soon transform into 62 affordable condominiums for house-holds earning up to 80 percent of the area median income. Denver City Council yesterday approved two loan agreements providing $4,965,000 toward the project.
“Building an affordable Denver means not only creating more affordable units for rent, but expanding opportunities for homeownership, especially at transit-oriented development sites like this,” said Mayor Mike Johnston.
“By using an innovative land trust model to ensure the units remain permanently affordable, this project will serve not just current residents, but generations to come. We’re thrilled to partner with RTD, Elevation Community Land Trust and Shanahan Development to make progress toward our affordable housing goals and make homeownership a reality for individuals and families.”
Have more mobility news that we should be reading and sharing? Let us know! Reach out to Sage Kashner (kashner@ctaa.org).
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