Denver Condo Project Aims for 'Permanent Affordability'

More often the province of rental housing, affordability policies are limited in the for-sale market. A partnership in Denver aims to change that with a mixed-use project including at least 86 condos destined to be "permanently affordable."

1 minute read

January 9, 2019, 9:00 AM PST

By Philip Rojc @PhilipRojc


Housing Construction

Tom Grundy / Shutterstock

In a city that "has mostly prioritized, and subsidized, affordable rental development," Emily Nonko writes, developer Jeff Shanahan was hard-pressed to find incentives to build homes affordable to working-class buyers, teachers in particular. 

To see what could be done with a 18,000-square foot parcel in Denver's Santa Fe Arts District, he looked to a nonprofit, the Urban Land Conservancy, which brought aboard the Elevation Community Land Trust. Founded in 2017, the trust has secured "$24 million in initial funding to acquire 700 homes across the city and surrounding suburbs, and, in the traditional community land trust model, lease the homes at affordable prices."

In December, Nonko writes, "the partners announced the Santa Fe Arts District lot would become home to 92 new condominiums, at least 86 to be permanently affordable for households earning $40,000 to $72,000 in annual income. The mixed-use project, called Inca Commons, will also include 4,000 square feet of commercial space."

The Elevation Community Land Trust will own the ground, distinguishing these for-sale units from market-rate housing and keeping prices down permanently. Aaron Miripol, president of the Urban Land Conservancy, believes the model has advantages over deed restrictions, which typically expire and can be opaque to homebuyers.

Thursday, January 3, 2019 in Next City

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Aerial view of town of Wailuku in Maui, Hawaii with mountains in background against cloudy sunset sky.

Maui's Vacation Rental Debate Turns Ugly

Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.

July 1, 2025 - Honolulu Civil Beat

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

July 9, 2025 - Diana Ionescu

Green vintage Chicago streetcar from the 1940s parked at the Illinois Railroad Museum in 1988.

Chicago’s Ghost Rails

Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

July 13, 2025 - WTTV

Bend, Oregon

Bend, Oregon Zoning Reforms Prioritize Small-Scale Housing

The city altered its zoning code to allow multi-family housing and eliminated parking mandates citywide.

5 hours ago - Strong Towns

Blue and silver Amtrak train with vibrant green and yellow foliage in background.

Amtrak Cutting Jobs, Funding to High-Speed Rail

The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

6 hours ago - Smart Cities Dive

Green Skid Row mural satirizing city limit sign in downtown Los Angeles, California.

LA Denies Basic Services to Unhoused Residents

The city has repeatedly failed to respond to requests for trash pickup at encampment sites, and eliminated a program that provided mobile showers and toilets.

7 hours ago - Los Angeles Public Press