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Nuns sense it's time

An article from The Denver Post, reports that last year, the Sisters of St. Francis agreed to sell most of their land to Urban Ventures LLC. The deal depends on a rezoning, which was approved by the Denver Planning Board. The City Council will make a final determination in August. Roughly 18 acres of the 25-acre parcel, extending northeast from 52nd Avenue and Federal Boulevard, would go to Urban Ventures. The Sisters of St. Francis would keep most of the remaining land. The deal's terms include the construction of new, condo-style residences for the six nuns who live onsite. They will continue to own and operate Marycrest Assisted Living in an existing facility. Also remaining will be a transitional home that houses 19 women and children, operated by the nonprofit Warren Village. Plans also include the building of 280 residential units, consisting mainly of townhomes and row homes. More than 100 would be rentals, sold to investors who get federal tax credits. On the west edge of the property along Federal will be approximately 100,000 square feet of retail and office space.
http://www.denverpost.com/economy/ci_9508140

Posted Monday Jun 09

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