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Denver council rejects $2.5 million downtown land purchase for affordable housing
Summary
The Denver City Council voted 7–4 to reject a proposed $2.5 million purchase of two downtown parcels intended for affordable housing after members criticized using CIP contingency funds amid competing maintenance and shelter needs.
Denver City Council on Oct. 14 rejected a proposal to buy two downtown parcels at 1460 and 1480 Tremont for use in an affordable housing project, voting 7 nays to 4 ayes.
The purchase was presented as a relatively low-cost opportunity to acquire inner‑city land the administration said could support long‑term affordable housing. Lisa Lumley, director of real estate, told the council the ownership group had signed a purchase-and-sale agreement in July and had told the city it needed confirmation the city would execute before the end of the month or the owners might “walk.” Jackson Brockway, capital planning and budget manager in the Department of Finance, said the city could use its CIP contingency policy to…
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