Molly Armbrister | Denver Business Journal

The $24 million fund will be used to finance property acquisition and pre-development loans for developers creating and preserving affordable homes along transit corridors such as RTD's West Rail Line from downtown Denver to Golden.Denver Mayor Michael Hancock and other dignitaries gathered Tuesday to launch an expansion of the Denver Transit-Oriented Development Fund for affordable homes, a $24 million endeavor.

The fund, which was created to operate within the city of Denver, will expand to include the seven-county metro area.

The $24 million fund will be used to finance property acquisition and pre-development loans for developers creating and preserving affordable homes along transit corridors in Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas and Jefferson counties.

Enterprise Community Partners Inc. and Enterprise Community Loan Fund Inc. announced the expansion Tuesday, with Hancock on hand. Enterprise is an affordable-housing advocate headquartered in Columbia, Maryland, with an office in Denver that led the effort to expand the fund.

“Both the geographic and capital expansion of the Denver TOD Fund will enable us to better create opportunity for Denver metro area residents as we connect affordable homes to transit, jobs, good schools, and health care,” said Lori Chatman, president of Enterprise Community Loan Fund. Read more