Tramway Affordable Housing Project

About This Property

Palisade Partners has teamed up with JJK Places and the Urban Land Conservancy (ULC) on their most unique and impactful project to date. The team is working towards a combined ground-up development and renovation of an existing building. The project is located between 35th and 36th Avenues on Gilpin Street in the Cole neighborhood of northeast Denver, part of the existing Cole-Train Tramway block development. The new construction, located on about 36,000 square feet of vacant land, will be a four-story building with about 64 for-sale residential condominiums sold at below-market, deed-restricted prices. The condos will range from studios to three-bedroom units and are intended to prevent displacement and allow Cole residents to reside in their neighborhood long-term. There will also be approximately 6,500 square feet of newly-renovated ground-floor commercial space in the existing building, offering space for nonprofits, socially conscious and community-serving uses, or existing community members to build their businesses. Additionally, as a community space, the development will feature a paseo or an exterior public space to host gatherings, events, and more. On-site surface parking will also be included in the courtyard of the new development.

The project is designed to be authentic and inclusive, and to provide equitable community engagement in Cole. Palisade believes that developments should advance and strengthen the communities and that the social impact of these contributions become as significant to the project’s reputation as the financial returns. The future of the Cole community will benefit from the impacts of this project, and the potential economic opportunities are invaluable. Construction is slated to begin in early 2022.

Category
In Development, Portfolio