Having just attended the first class of the 2009 Transit Alliance Citizens' Academy this week where we discussed transit-oriented development, I was thrilled to see today in the Denver Post (i have to recognize the demise of the Rocky Mtn. News...what a loss for our community) that the City of Denver will spend $15 million over the next 10 years to acquire property near mass transit stations for affordable housing.

According to the Post, Denver will be spending about $15 million buying properties near mass transit in an effort to preserve and create affordable housing. With the John D. and Catherine T. MacArthur Foundation providing $2.25 million in seed money, the city has been able to leverage additional private investment funds into the Denver Transit-Oriented Development Fund. Denver will be investing $2.5 million with $2 million will be coming from franchise-fee revenues from Xcel Energy.

I will be blogging a lot over the next months. So much of our future here is developing sustainable, transit-oriented development around these stations. I am excited about the pro-active efforts the City of Denver is taking.

 
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1 Comments on City to Acquire Property for Affordable Housing

MAR
27
2010
130,735 Points 2 Featured Posts

TOD is smart and helpful into the next century. We need more help here in Phoenix where the light rail is only 15 months old. Phoenix is sooo spread out- it will be a challenge to make TOD work.
7:08pm • #1


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