Urban Land Conservancy Sells Land to City & County of Denver for New Denver Public Library Branch Near FasTracks West Line Corridor
DENVER, May 30, 2012 /PRNewswire/ -- As part of a long-term collaboration, the City and County of Denver (CCD) today purchased land from Urban Land Conservancy (ULC) at West Colfax Avenue and Irving Street in order to begin construction of the long-anticipated Denver Public Library branch in West Denver.
The library parcel, located at a site known as Mile High Vista, is a .86-acre portion of a two-acre area purchased by ULC in March 2011 using Denver's Transit-Oriented Development (TOD) Fund. The TOD Fund was set up specifically for acquiring land near existing or future light rail stops and near high frequency bus routes for the preservation and creation of affordable housing and community assets. Mile High Vista is located within 1/4 mile of both the Knox and Federal/Decatur light rail stations, scheduled to open in 2013.
ULC purchased Mile High Vista with the long-term goal of providing a site for a much-needed library on Denver's west side, as well as developing workforce housing and affordable commercial space. The location near light rail further aligns with goals to ensure that affordable and mixed-income housing near transit is available to improve the health and the quality of life for residents in metro Denver. In addition, Mi Pueblo grocery is planned for property adjacent to Mile High Vista and is expected to open in the next few months.
"The new library is a great example of how nonprofits can successfully partner with local government to accomplish more for communities. We are thrilled to be a part of this catalytic development and new economic driver for the West Colfax area," said ULC's CEO and President, Aaron Miripol.
ULC sold the land to CCD for $985,000 plus a proportionate share of the infrastructure costs on the land. This money will be used to pay down the TOD Fund, making these funds available to revolve into other Denver-based TOD projects. The purchase of the land and construction of the new branch library is made possible by the City & County of Denver's voter-approved Better Denver Bond Program.
In 2011, Denver Public Library and their architect, Studiotrope Design Collective, held three community meetings to gather input on the function and design of the new branch library, expected to break ground in summer 2012.
"We are very excited about opening a new branch library in this area," said City Librarian, Shirley Amore. "The community has been amazing with helping us design and envision a place where people of all ages will be able to gather, learn, create, and share ideas."
About the ULC: ULC is a nonprofit organization established in 2003 that preserves and develops real estate for community benefit. In addition to Mile High Vista, ULC has made 15 real estate investments and currently owns 12 properties in metro Denver, including nonprofit centers, community centers and affordable housing developments.
This press release was issued through eReleases® Press Release Distribution. For more information, visit http://www.ereleases.com.
SOURCE Urban Land ConservancyBack to top