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Denver Regional Transit-Oriented Development Fund

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Denver Regional Transit-Oriented Development
(TOD) Fund

In 2010, Enterprise launched a first-of-its-kind Transit-Oriented Development Fund to create and preserve affordable homes along current and future transit corridors in Denver. The first iteration of the TOD Fund provided $13.5 million in capital to purchase and hold sites for up to five years, in anticipation of new transit stations opening. These acquisitions have created a pipeline of over 600 permanently affordable homes, over 100,000 square feet of supportive commercial space, including a new public library, nonprofit office space, and a day care facility, all within short walking distance of transit.

As public transit infrastructure expands beyond the borders of the Denver Metro Area, Enterprise recognized the need to expand the parameters of the Denver TOD Fund. Along with many partners, Enterprise has improved upon the program, expanding the fund to a $24 million regional acquisition resource open to a spectrum of affordable housing and community developers seeking to purchase and hold sites along transit for preservation or future development.

Eligible borrowers can use the Denver TOD Fund to purchase, hold and eventually develop sites in the Denver Metro Area within:

  • One-half mile of fixed-rail transit stations
  • One-quarter mile of high-frequency bus stops

See Denver Regional TOD Fund Term Sheet for more details.

Why is the Denver TOD Fund Needed?

Metro Denver is undergoing one of the nation’s largest public transit expansion including the addition of five light and commuter rail corridors and a new Bus Rapid Transit corridor to the existing three lines that already serve Denver and its south suburbs.

In most urban areas including Denver, transportation is the second highest household expense after housing. In Denver, working families who earn between $20,000 and $55,000 spend on average of 59 percent of their gross household income on housing and transportation.

Locating affordable housing in transit corridors allows households to reduce expenses, while increasing access to employment, educational opportunities and services. It is essential that transit- accessible affordable housing in the Denver region be preserved and developed to ensure long-term affordability and access to greater opportunity for low-income residents.

Efforts to Date

Denver TOD Fund Investors/Partners

City of Denver Office of Strategic Partnerships
City of Denver Office of Economic Development
Colorado Division of Housing
Enterprise Community Partners
Colorado Housing and Finance Authority
The Denver Foundation
The Ford Foundation
The Gates Family Foundation
The MacArthur Foundation
The Rose Community Foundation
Mercy Loan Fund
Mile High Community Loan Fund
Enterprise Community Loan Fund

Need More Information?

To learn more about the Denver Regional TOD Fund, contact Brad Weinig for more information at 303.376.5412.

Future borrowers can visit our website to access the Denver TOD Fund term sheet.

Denver Public LIbrary

The library parcel, located at a site known as Mile High Vista, is a .86 acre portion of the two-acre area purchased by the Urban Land Conservancy in March 2011 using Denver’s TOD Fund. Mile High Vista is located within ¼ mile of both the Knox and the Federal/Decatur light rail stations, scheduled to open in 2013. Read the new release.

See other examples of how the Denver TOD Fund will create or preserve affordable housing near transit. 
View Slideshow
Evans Station Loft
Evans Statin Lofts

This new mixed-use development will include 50 workforce housing apartments giving residents easy access to transportation, jobs, education and other services.