DENVER, June 20, 2011 /PRNewswire/ -- The Urban Land Conservancy (ULC) today announced the purchase of land along Denver's FasTracks Southwest light rail corridor that will be developed into an affordable, mixed-use transit-oriented development. This is the fourth property ULC has acquired using Denver's Transit-Oriented Development (TOD) Fund, and will provide much-needed workforce housing and retail opportunity directly across from the Evans Light Rail Station.
ULC is partnering with affordable housing developer Medici Communities LLC, who was recently awarded $1,045,505 in annual low-income housing tax credits (LIHTC) from Colorado Housing and Finance Authority (CHFA), for the project. The LIHTC program provides the private market with an incentive to invest in affordable rental housing.My source says the row that's been brewing over the past few weeks has been the source of real frustration for the team at Syco who are working with Cher as she prepares to unleash her music.My impeccable source tells me: "Will wanted to sign Cher from the get-go and work on her career - but she signed to Syco affiliate Modest! Management because of what her contract said after the show. So he was miffed to start with.The source says: "Will.i.am is just annoyed about what's happened with Cheryl. It's very unfair to be making Cher pay for all of what has happened."I can reveal her collaborator Will.i.am is "holding back" the eagerly-awaited song in the wake of his client Cheryl Cole's sacking from X Factor US. From what I hear it's a big worry for Simon Cowell's Syco team working on Cher's debut album - who are desperate for the track to be included."Now with everything that's happened to Cheryl and the fact he's managing her too he's decided to play hardball with Syco. He's refusing to send the track into them and they just don't know what's happening.ULC purchased the .96-acre property at 2140 S. Delaware Street for $1,197,900 using the TOD Fund. The Fund was set up specifically for acquiring and preserving land for workforce housing near existing or future light rail stops and high frequency bus routes. It is financed in part by the City and County of Denver and Enterprise Community Partners, who is also the administrator of the Fund. ULC's President and CEO, Aaron Miripol, states, "This site being directly across the street from the Evans Station will provide much economic opportunity in a prime location, giving people easy transit access for jobs and education opportunities. We expect this development to be catalytic to the area, encouraging additional community investment."
SOURCE Urban Land Conservancy
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