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Keybank Provides $36M in Financing for Construction of Affordable Housing Project in Aurora

October 19, 2023

KeyBank recently provided $36.3 million for the new construction of Elevate at Aurora, a 137-unit multfamily project in Aurora by developer Columbia Ventures.

Elevate at Aurora will include low-income units for households at 30%, 40%, 50%, 60% and 70% of area median income (AMI) in a mix of studio, one-, two- and three-bedroom units. The project will also include construction of a new community service facility which will primarily serve as the Aurora location for CrossPurpose, a nonprofit provider of workforce development services and Living Hope Community Church, a bilingual church that provides before and after‐school programming. Elevate at Aurora’s unique collaborative approach will create opportunities for economic mobility for residents and the broader community. Affordable rents will decrease the economic strain of being rent‐burdened, while CrossPurpose will offer residents and the Aurora community growth pathways through leadership,
entrepreneurship and career development programs.

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Source: Mile High CRE

Mixed-Use Project Slated to Break Ground on Auraria Campus Summer 2024

October 9, 2023

Auraria Higher Education Center (AHEC) and developer Columbia Ventures are set to develop two buildings on the Auraria Campus  – one for commercial use and the other for residential purposes – on a two-acre vacant parcel of land at the intersection of 11th St. and Auraria Parkway. The commercial building will include space dedicated to workforce development, higher education and retail/commercial office space. The residential building will include mixed-income housing and an early childhood learning center.

“The advantages of a mixed-use development, like Ballfield at Auraria, for our campus and the downtown Denver community are unparalleled,” said Colleen Walker, CEO of Auraria Higher Education Center. “Together, with the mission-aligned organizations investing in this project, we’ll create new spaces for accessible housing opportunities, early and higher educational programs and continue to support workforce development. Ultimately, this development will shift our campus from being a place where people gather during the school week, to a vibrant, thriving community all week-long. We are excited to see the impacts of this project on our campus, for our students and surrounding communities.”

The project name, Ballfield at Auraria, is a nod to the previous site of Metropolitan State University of Denver’s (MSU Denver) baseball field. In 2015, the field moved to its current location at the Assembly Athletic Complex (1600 W. Colfax Ave.).

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Source: Mile High CRE

Pittsburgh Yards redevelopment earns Community Design Award 

A redevelopment project that transformed an abandoned site in Southwest Atlanta into a space for entrepreneurs is earning recognition from the city. 

“Pittsburgh Yards will remain a transformative, community-led catalyst that will positively impact residents and Atlanta-based entrepreneurs for generations,” Kweku Forstall, director of the Annie E. Casey Foundation’s Atlanta Civic Sites. 

The city of Atlanta’s Urban Design Commission presented the 2023 Community Design Award to Pittsburgh Yards (PY) on June 23.

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Source: Rough Draft Atlanta


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