Warehouse Put To Uses Besides Marijuana
The Urban Land Conservancy (ULC), a local nonprofit that preserves and develops land and buildings, recently closed on financing for the Social Enterprise Foundry, a 45k SF warehouse in the Sun Valley neighborhood that provides affordable space to five nonprofits, most focused on green initiatives.
ULC CEO Aaron Miripol tells us that investing in Sun Valley in this way creates a job center that might not otherwise exist for environmentally focused nonprofits. Industrial space is at a premium throughout Colorado these days because of demand from the marijuana industry. "The Social Enterprise Foundry brings jobs, services and investment into this community, while being accessible by both light rail and bus, which is critical to the success of our nonprofit tenants,” Aaron explains.
This is ULC's third investment in the Denver area made with the Calvert Foundation's Facility Fund. ULC fully deployed the foundation’s $10M fund in only one year, on three properties: Race Street Transit Oriented Development, a six-acre master development site that will include affordable housing; Mountain View Nonprofit Tower, a seven-story building in central Denver that houses eight nonprofits; and now the Social Enterprise Foundry.
