Urban Land Conservancy
From Wikipedia, the free encyclopedia
 | |
| Formation | 2003 |
|---|---|
| Founded | 2003 |
| Focus | Acquire, develop and preserve real estate in urban areas for community benefit |
| Headquarters | Denver, CO |
| Location | |
Region served | Denver metro area |
CEO, President | Aaron Miripol |
| Aaron Martinez | |
| Brad Dodson | |
| Matthew Barry, Dawn Burkhardt, Eric Duran, Michael Harris, Eugene Howard, Tim Howard, Grant Swanson, Creighton Ward, Tracy Winchester, David Younggren | |
| Website | https://www.urbanlandc.org/ |
Urban Land Conservancy (ULC), acquires, develops and holds real estate for long-term community benefit, focusing on preserving and delivering affordable residential and commercial properties in the Denver metro area.[1]
Urban Land Conservancy was established in 2003 with capital from the Gary-Williams Energy Corporation through the Piton Foundation, a philanthropic organization founded by Sam Gary.[2] In 2007, the conservancy hired Aaron Miripol as its first outside president and CEO.[3]
Properties
ULC's properties include affordable housing, nonprofit facilities, schools, health centers and mixed-use developments. The buildings may be owned and leased by ULC, or held in a community land trust where ULC owns the land and another organization owns the building. ULC also engages in land banking for future development, and property covenants to ensure rents remain affordable.[1]
Affordable Housing
ULC secures properties to be redeveloped or preserved as affordable housing. A community land trust is often used to ensure long-term affordability. Examples include South Platte Crossing Apartments in Commerce City, Colorado, The Irving at Mile High Vista in Denver, and Walnut Flats in Denver.[4][5][6]
Nonprofit Space
ULC acquires and maintains properties to lease low-cost office and facility space to nonprofits and mission-minded organizations. These “nonprofit hubs” allow organizations to operate at below-market rates. Examples include Holly Square and the Tramway Nonprofit Center.[7][8][9]
Schools and Educational Centers
ULC secures and develops properties for educational use, such as the New Legacy Charter School.[10] They also partner on campuses that combine affordable housing with educational and job training opportunities, such as the Mosaic Community Campus.[11]
Land Banking
ULC acquires vacant or underused land in transit corridors and vulnerable neighborhoods for future community-focused development. For example, ULC acquired parcels at 40th and Colorado Boulevard adjacent to a Regional Transportation District (RTD) station for a mixed-use affordable housing development.[12]
Health Centers
ULC owns land that houses community health clinics, such as the Tepeyac Community Health Center and the Center for African American Health.[13][14]
Mixed-use Commercial and Community Spaces
ULC's community land trust model allows ULC to retain land for facilities that feature more than one property type, including a mix of affordable housing, nonprofit office space and small retail businesses that support the community. Examples include the Vina Apartments, nonprofit and retail uses at 48th and Race; and Meade Street Gardens in the Denver neighborhood of Westwood.[15][16]
Practices
ULC utilizes a variety of real estate practices, including land banking - the practice of acquiring parcels of land for future development.[17][18] They also use a community land trust (CLT) model with a 99-year, renewable ground lease to circumvent the affordability expirations imposed by the city and federal Low-Income Housing Tax Credits (LIHTC).[19] In addition, ULC supports sustainable energy practices in its development projects, such as at the Oxford Vista Campus in the city of Aurora.[20]