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BusinessDen file)
The next chapter of the former Denver campus of Johnson & Wales University has begun.
Denver-based nonprofit Urban Land Conservancy closed on the purchase of the 13-building, 25-acre campus at 7150 Montview Blvd. in South Park Hill on Tuesday.
ULC President and CEO Aaron Miripol told BusinessDen the organization which has users lined up for every structure paid approximately $62 million.
That transaction was the first of a three-part deal, which saw ULC immediately resell portions of the campus to Denver Public Schools and the Denver Housing Authority, while retaining ownership of the remainder.
“To me, this is an amazing opportunity,” Miripol said.
Nonprofit under contract to buy campus of Johnson & Wales University
Courtesy of Johnson & Wales University)
A nonprofit is working to purchase the Denver campus of Johnson & Wales University.
Denver-based Urban Land Conservancy is under contract for the entire 25-acre campus in South Park Hill, according to sources familiar with the deal. The main address is 7150 Montview Blvd.
Providence, Rhode Island-based Johnson & Wales announced last June that it would close its campuses in Denver and North Miami, Florida, in the summer of 2021. The move will leave the private nonprofit institution with two campuses, in Providence and Charlotte, North Carolina.
ULC generally develops and manages projects that involve income-restricted housing, as well as office space leased to other nonprofit organizations. The company typically partners with other firms in its development work.
A nonprofit is working to purchase the Denver campus of Johnson & Wales University.
Denver-based Urban Land Conservancy is under contract for the entire 25-acre campus in South Park Hill, according to sources familiar with the deal. The main address is 7150 Montview Blvd.
Providence, Rhode Island-based Johnson & Wales announced last June that it would close its campuses in Denver and North Miami, Florida, in the summer of 2021. The move will leave the private nonprofit institution with two campuses, in Providence and Charlotte, North Carolina.
ULC generally develops and manages projects that involve income-restricted housing, as well as office space leased to other nonprofit organizations. The company typically partners with other firms in its development work.