While we often think of housing prices being higher near transit stations, it is equally true that affordability of commercial and retail space is in jeopardy. This can reinforce gentrification pressures, reducing the availability of much needed goods and services that once served local residents. Not only are local for-profit and nonprofits displaced as a result of rising rental costs, but, once profitable businesses may now find themselves shuttering their doors.
Mile High Connects is working with community partners such as Denver Shared Spaces and others to ensure that those most vulnerable to increasing commercial costs are able to exist in their neighborhoods. MHC is working work partner to develop financial tools to ease some burden and make it possible for these businesses to locate near transit.
Mile High Connects is engaged in conversations with local residents to ensure that the right services are located within their community. MHC and its partners are developing a pipeline of possible tenants to help developers find the right match when they prioritize having commercial and retail tenants that meet the community’s expressed needs.
higher cost in commercial space in a transit oriented development