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Arapahoe County approves limited partnership with Columbia Ventures for Colfax/Anschutz project
Summary
The board approved entering a special limited partnership with Columbia Ventures for a mixed‑affordability project near the Anschutz Medical Campus, including a $250,000 upfront payment and a 15‑year affordability commitment backed by a 99‑year ULC lease on the land.
The Arapahoe County Housing Authority voted Jan. 12 to enter a special limited partnership with Columbia Ventures for a proposed mixed‑affordability project near the Anschutz Medical Campus and Colfax.
Dylan Danes of Columbia Ventures outlined a project that pairs 9% and 4% low‑income housing tax credit financing across one site and highlighted on‑site amenities, family‑friendly floor plans and social‑impact partners including Cross Purpose and Tepeyac Community Health Center. “We would, propose an upfront fee of $250,000, and then, we would commit to 15 years of affordability,” Danes said.
Columbia said the Urban Land Conservancy (ULC) would own the land and place a 99‑year lease with an extension to protect long‑term affordability; Columbia also described a breakup fee payable to the county if affordability were lost. Staff confirmed the land‑owner arrangement and presented a timeline that would seek tax credit awards and a multi‑year construction schedule with projected move‑in in 2027–2029 depending on financing and timing.
After questions about site ownership, tax‑exemption terms and timing, the board moved and approved entering a special limited partnership with Columbia Ventures; the motion passed by voice vote. The board did not record a roll‑call tally in the meeting transcript.
The vote enables the developer to pursue tax credits and to request county tax‑exemption support under the SLP model; staff said they will return with documentation and final terms as financing is secured.
