Westminster will see 58 mostly affordable, carbon-free townhomes as early as 2021 after a nonprofit received six acres of city land for $1.
The Urban Land Conservancy, which develops and preserves real estate in metro Denver for affordable housing or community uses, will keep two-thirds of the townhomes available for 99 years to those who earn 80% of area median income.
“Because of the decision by WEDA (Westminster Economic Development Authority) and the Westminster City Council to support this land donation, the development of affordable townhomes and long-term affordability is made possible for future generations,” said Debra Bustos, ULC’s senior vice president of real estate.
WEDA is an urban renewal organization through which the city can use eminent domain and tax increment financing to develop blighted areas.
The area of the townhouses, at West 96th Avenue and Federal Boulevard, is home to a defunct residential project, the hazards of which the city hopes to mitigate.
Thrive Home Builders will be ULC’s partner on the project. The homes will be net zero, meaning that they produce sufficient enough renewable energy and are efficient enough to warrant no energy bill.
A 2017 report from the Net Zero Energy Coalition tallied 13,906 net zero homes in the U.S. and Canada. More than a third of homes were in California, and Colorado had fewer than 1,000.