The developer must, at a minimum, preserve all of the low-income housing units there, which previously had been a controversial project when Casden Properties of Beverly Hills, CA, decided not to renew its Section 8 housing for the project, ending 25 years of it being built for some of the poorest people in Denver.
The controversy ended when the DHA, with the help of the city, bought East Village from Casden.
The DHA bought the property and now has narrowed the potential developers to two groups.
The board was supposed to have picked a team to negotiate with last Thursday, but after meeting for almost two hours in an executive session, they postponed the decision to Tuesday. The board needed more information before it could make a decision, board member Bill Mosher tells GlobeSt.com.
Simpson Housing Solutions LLC and the Alliance Property Group Inc. head one team. The other team is headed by former Denver Bronco Claudie Minor.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
