ULC June Partner Spotlight – Regional Transportation District
The Urban Land Conservancy celebrates the achievements of its partnerships that generate opportunities to create and preserve real estate to benefit communities in metro Denver. ULC’s Monthly Partner Spotlight is awarded to organizations that recognize and demonstrate the value of collaboration, furthering ULC’s mission and improving lives of Denver area residents through community assets.
This month’s partner is extremely valuable to ULC as both a high level supporter and hands-on collaborator. To show our appreciation for their tremendous work, ULC has chosen Regional Transportation District (RTD) for our June Partner Spotlight of the Month.
ULC strives to focus its real estate projects at transit-oriented sites, and RTD’s expansion of FasTracks allows our work to have this strategic emphasis. Constantly working to improve and add to its transit services, RTD’s commitment to the Denver metro area brings ULC many opportunities to achieve its mission. Needless to say, ULC’s success in transit-oriented development is highly reliant on a growing transportation network within our community, and RTD is a wonderful partner in this regard.
This month our two organizations successfully finalized a property acquisition/disposition at Sheridan Station on the W Line (ULC sold land to RTD and acquired land from RTD). This complex transaction is an important milestone that provides ULC and our development partner, NEWSED, the opportunity to significantly increase density at the site. The plans for the future multi-phased development will incorporate the Sheridan Station Residences, a 62 unit workforce housing development as well as over 200 mixed-income housing units, commercial and retail space. The redevelopment station site will increase walkability, bikability and availability for neighboring areas to access the Sheridan rail station and existing 800 car parking garage. This project will be a huge boost to the local economy, providing jobs, new housing options and increased access to the greater Denver region. The development potential would not be possible without partnership with RTD.
![Sheridan Station Redevelopment Concept](https://www.urbanlandc.org/website/wp-content/uploads/2014/01/Sheridan-Station-Redevelopment.jpg)
Since 2010 ULC has been working with RTD and development partners Mile High Development and Koelbel and Company on the master site planning of a new transit oriented community at Denver’s Yale Station. RTD is a critical partner in these planning efforts which include consideration for the RTD land to maximize high-density development potential at this site. Phase 1, which includes 66 units of workforce housing, recently received a Low-Income Housing Tax Credit allocation. ULC anticipates construction to be underway in early 2015.
Debra Bustos, ULC’s VP of Real Estate, states, “Our partnership with RTD has proven to be invaluable. The willingness of their staff to work through complex issues allows us to work together in a way where we compliment the efforts of the other to create strong TOD communities and promote ridership.”
RTD has also been a key strategic partner at our Park Hill Village West (PHVW) property on the East Line. ULC’s 9.4 acre acquisition will be the initial catalyst for future redevelopment of the greater 40th and Colorado station area. RTD has played a pivotal role in addressing storm water detention, identifying employment opportunities through the existing Workforce Initiative Now (WIN) program and addressing pedestrian access directly across from PHVW to the new commuter rail station platform. Significant reconfiguration of the existing street network in key locations has also been made possible through RTD’s collaborative work and vision for the area. The PHVW master plan will be implemented in multiple phases, potentially including up to 450 new residential units and well over 250,000 square feet of commercial and retail space. RTD representatives have actively participated in the community planning process currently underway, which will result in 3 master site plan design concept options to guide future development partners. These Transit Oriented Development concepts will be publicly displayed at a community design open house event on June 28th from 10am-2pm at the Park Hill 4000 Apartments clubhouse adjacent to the PHVW property.
Phil Washington, RTD’s General Manager and CEO notes, “RTD has actively partnered with local governments and organizations to maximize TOD opportunities and ULC has been a great partner. It is crucial we make certain that the planning efforts for areas around our rail and bus stations take into account all possibilities for TODs at every level, and that the actual development results in the types of communities of which we can all be proud. We look forward to continued successes with our key partners like ULC.”
These three projects are just the beginning of the great partnership we’ve established with RTD and we look forward to a long and mutually beneficial relationship with the organization. Not to be forgotten, a loud round of applause to RTD on all their recent accomplishments, including the grand opening of the Denver Union Station bus complex last month!
![Denver Union Station](https://www.urbanlandc.org/website/wp-content/uploads/2014/06/RTD-2.jpg)
The Regional Transportation District (RTD) meets the public transportation needs of the Denver Metro area by offering safe, clean, reliable, courteous, accessible and cost-effective service in an eight-county service area while providing 100 million passenger trips annually. FasTracks is RTD’s voter-approved transit expansion program to build 122 miles of commuter rail and light rail, 18 miles of bus rapid transit service, add 21,000 new parking spaces, redevelop Denver Union Station and redirect bus service to connect the eight-county district better. For more information, visit www.rtd-denver.com.