60 Affordable Apartments at South Platte Crossing Ensure Long-Term Community Benefit
COMMERCE CITY – In a significant move to address housing needs in Commerce City, Denver-based and Black-owned Nesbitt Development announces the upcoming construction of the South Platte Crossing apartments. The project represents Nesbitt Development’s first major venture in the Denver metro area collaborating with national affordable-housing developer, Brinshore Development.
Nesbitt Development and Brinshore will build, own, and operate a four-story building featuring studio, one-, two- and three-bedroom homes at 72nd Avenue and Colorado Boulevard. Also working with Urban Land Conservancy (ULC), the development aligns with Nesbitt’s mission to create sustainable, affordable housing solutions for Commerce City.
“This development is more than just building homes. It’s about creating a foundation for community stability and growth in Commerce City,” said Eric Nesbitt, Principal and founder of Nesbitt Development.
Brinshore principal and co-founder David Brint added, “Brinshore is thrilled to partner with Nesbitt Development and ULC on this transformative project. Together, we’re bringing a balanced approach to revitalization and affordable housing in Colorado.”
The South Platte Crossing apartments, conveniently located near the RTD N Line Avenue Station, will cater to individuals and families earning 30% to 80% of the area median income (AMI). The strategic location near transit lines and essential services underscores Nesbitt Development’s commitment to community-centric development.
Under the innovative framework established by ULC’s community land trust, Nesbitt Development and Brinshore will offer the apartments at affordable rates for 99 years. The land trust model allows developers to focus on delivering high-quality, affordable housing while ULC ensures the land serves the community’s best interests.
“South Platte Crossing is a testament to what can be achieved when organizations like ULC collaborate with dedicated developers like Nesbitt and Brinshore,” said Sarah Harman, Senior Vice President of Real Estate for ULC. “This project will not only provide affordable housing but also contribute to the overall well-being and development of Commerce City.”
Construction is expected to begin in early 2024, marking a significant milestone in Nesbitt Development’s commitment to addressing Colorado’s affordable housing crisis.
“Our partnership with ULC and Brinshore enables us to leverage our expertise in affordable housing,” Nesbitt said, “We’ll make a lasting impact in the community.”
About Nesbitt Development, LLC
Founded in 2019, the firm is a natural outgrowth of the work of Eric L. Nesbitt, Esq. over decades building a successful commercial real estate brokerage firm and a real estate law practice, including representing clients in complex real estate development matters. The primary mission of Nesbitt Development is to do good for and by our community by investing in challenged neighborhoods and the people living in them.
About Urban Land Conservancy
Established in 2003, Urban Land Conservancy is a Denver-based nonprofit real estate development company that uses innovative methods to protect affordability in perpetuity and benefit urban communities in the Denver region. ULC preserves, develops and invests in affordable housing, nonprofit commercial space, community centers and schools. Learn more at urbanlandc.org.
About Brinshore Development
Brinshore Development, LLC is an experienced real estate development firm based in Evanston, Illinois with 29 years of expertise. As an industry leader, Brinshore excels at creating diverse teams to transform the most complex development challenges into well-designed and vibrant communities. Brinshore’s current portfolio includes 12,000 affordable rental housing units valued at more than $1.7 billion in 22 states and the District of Columbia. For more information, visit www.brinshore.com