The True Life Companies, a real estate private equity firm, has purchased approximately five acres of land in Denver for the development for-sale townhomes.
The property is located at 2922 W. 56th Ave., approximately three miles from downtown Denver and within close proximity to RTD FasTracks G-Line Clear Creek and Federal Station.
The True Life Companies indicated that they will begin the planning, entitlement and development process that results in a “shovel-ready” site.
“Denver has been one of the fastest growing areas in the nation for more than a decade,” said Scott Clark, chairman and chief executive officer. “This population growth, combined with a lack of affordable single-family homes, has created pent-up demand. Generating sustainable communities that promote accessible transportation choices creates much-needed housing alternatives and significant community benefits.”
The True Life Companies works with homebuilders, municipalities and property owners seeking to provide “attainably priced” housing options.
The firm has nearly $300 million in assets under management and is in process of securing entitlements that would bring more than 2,000 future homesites to markets in Denver, Los Angeles, Sacramento, San Diego and San Francisco.
In mid-December, The True Life Companies announced another duplex project at 6501 Lowell Boulevard in Denver, as reported by The DI Wire.
According to filings with the Securities and Exchange Commission, the company sponsors multiple Regulation D private placement offerings.
The True Life Companies focuses on repurposing underutilized property to create new housing options in high-need U.S. markets. The firm is headquartered in Denver with offices in San Ramon, Folsom and Irvine, California.