“Denver’s transit agency is starting to make good on a promise to use valuable parking lots near train stations for people instead of just private car storage (also known as parking lots).
Earlier this year, the Regional Transportation District committed to help developers concentrate mixed-income housing and businesses around its stations. The first domino to fall from the “equitable transit-oriented development policy” will be a surface lot at 29th and Welton streets in Five Points, along the L-Line.
RTD will partner with the city’s housing department to lease or sell the lot to homebuilders, who they expect to build between 50 and 70 homes, according to RTD documents. The homes will be condos for sale, not apartments for rent.
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RTD bought the parking lot in 1993 for $97,000 during construction of what is now the L-Line. The transit agency wanted to make good on the on-street parking displaced by the project. Customers of the shops and restaurants on Welton have been parking there for free since then, and RTD has spent money maintaining it.
Now that little square of car storage is worth over $2.4 million.”
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Sachs, David. Denverite 13 August 2021.