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The Regional Transportation District-Denver (RTD) is seeking a development partner to construct a transit-oriented housing project near the L Line in Five Points, a neighborhood of Denver.
The project would be a mixed-income condominium, located at 29th Avenue and Welton Street, that would create a model of affordable homeownership through a public-private partnership, RTD officials said in a press release.
RTD has partnered with Denver’s Department of Housing Stability in the procurement search. The development project was given the green light in August and will include at least 25% of units affordable to households earning at or below 80% of area median income.
So far, the agencies have issued a request for qualifications and have said they will not prescribe a specific development program, site design or financing structure. Officials also expect the project will reflect the developer’s commitment to market viability and innovation and demonstrate a commitment to affordable housing opportunities for Denver residents.
RTD is encouraging the building of affordable homes due to slowing development of condominiums, with many of the newest developments being priced on the high end of the market.
“RTD is a willing partner in addressing the affordable housing crisis in the Denver metro region,” said RTD General Manager and CEO Debra Johnson. “The agency is looking forward to cooperatively working with the city and county of Denver to identify a developer whose shared passion for equity and accessibility will benefit customers who depend heavily upon the services we provide.”