|  | |
Partnerships
City of Aurora & Aurora Urban Renewal Authority
"(Florence Square is) truly one of the most creative, attractive, and unique affordable housing and mixed-use developments I've ever seen. It's also a stunning enhancement to East Colfax." |
At the heart of the $32 million Florence Square Redevelopment Project was the Redevelopment Agreement between these two entities and Medici Communities. This agreement ultimately directed the sequence and the amounts of City incentives and assistance in return for performance and quality benchmarks to which Medici adhered. This partnership effort made possible a significant investment in a community that had not seen such in more than thirty years.
Aurora Housing Authority & the City of Aurora
In order to broaden the positive community impact of the Florence Square project, Medici Communities actively pursued a partnership with the Aurora Housing Authority that eventually expanded the product mix and increased the financing options for the property. This agreement concludes that the Aurora Housing Authority will build an additional 38 units of affordable housing on a parcel that was awarded to Medici. As a result, this partnership allowed Medici to access financing options typically reserved for housing authorities, while the City of Aurora has been awarded with a diverse and thoughtful product mix.
City of Denver
Denver Housing and Neighborhood Development Services sought a thoughtful developer to help create an attractive and functional senior development in the community while at the same time claim a positive return on their neighborhood investment.
 |  |
