According to data from the City of Lone Tree, households in Lone Tree earn an average of over 70 percent above the national average. So, when you see the word “affordable” pop up, it’s welcome news for both those who want to gain entry to the area, and those already living there who want to see the city prosper and grow in thoughtful ways.
And that’s exactly what happened with the recent news that Lone Tree’s City Council has approved an attainable housing plan from Coventry Development.
Details, details
The plan calls for a minimum of 350 new housing units which will be reserved for residents making between 40 and 60 percent of the median income in the area. And there’s good news for seniors looking to relocate to the area: 150 of those affordable units will be reserved for those age 55 and older.
And while it’s not necessarily new to hear about the forthcoming light rail stop in the area, it’s exciting to see how the community centered around the new stop will begin to take shape. The RidgeGate stop, the final new stop under RTD’s Southeast Rail extension project, will extend the southeast section of Denver South’s light rail to the developing community. This will enable easy transport all the way to Union Station and back again.
What is RidgeGate, anyways?
RidgeGate is a long-term community development project in Lone Tree, with 3,500 acres that will extend across either side of I-25. The light rail stop is part of the overall plan to help residents in the RidgeGate area reduce their dependability on driving, which will help to ease congestion in an area that’s experienced rapid growth up to this point.
RidgeGate bills itself as being very thoughtful about growing into the next 20-plus years, and the approval of the attainable housing plan in the area reflects this. This includes sustainable practices, retail and office spaces, and plenty of recreational options as Denver southerners are accustomed to.
Why is this so great?
Many in the region see the RidgeGate stop and development as an opportunity to craft a community uniquely tailored to meet needs of the future. Developing on a massive green space provides the space to customize the area to meet the demands of the local workforce.
The Denver Post highlights a report from a Denver-based research company that found light rails stops to be a major boon for local economies. As Joe Rubino reports, “construction and rehabilitation of affordable housing units within a half mile of RTD rail or bus rapid transit stations accounted for $97 million in spending in 2017, creating 2,587 jobs.”
This project also represents a diverse coalition of private business, various political beliefs and community leaders coming together with a shared vision. It’s a reminder that when good things happen, they often happen locally.
“Encouraging a wide range of housing types and affordability ranges within Lone Tree has been a long-standing objective of the City’s Comprehensive Plan,” says Kelly First, Community Development Director for the City of Lone Tree.”
“This is housing that is financially attainable to people including first-time homebuyers, entry-level professionals, special needs populations, seniors and workers in this area. It offers opportunities for people to live, work and shop in the same community, reducing the need for long commutes and travel times. It’s wonderful to see the RidgeGate Attainable Housing Plan come together with specifics for how attainable housing will be integrated into the City east of I-25, near light rail and transit.”
The new light rail stop and attainable housing will connect the community with health services, increase the quality of life for the local workforce and likely act as a boon for job creation and spending.
Now that’s some news worth spreading.
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