Post previously had said it would pay $14 million for theproject to the privately held Casden Properties Inc. The subsidizedhousing complex is across the street from Post's $100 million,luxury apartment project. The Denver Housing Authority is in thecondemnation process against privately held Casden Properties Inc.,the Beverly Hills owner, on the 199 low-income housing units atTremont Place and Park Ave. West. Denver Mayor Wellington Webbsupports the DHA condemnation lawsuit, but adds Post'sresponsibility is to shareholders and not to poor people.Neighborhood groups, initially in Post's corner, also arecriticizing the developer because they prefer new condominiums -not rental units - in a neighborhood already boasting a largenumber of rental properties.

"Post hasn't been able to forge the consensus it believes isvital to building the unique neighborhoods we strive for," says ArtLomenick, Post's west division senior vice president."We continueto be enthusiastic about being part of downtown Denver'srenaissance and hopefully to be a part of East Village'sredevelopment in the future," Lomenick adds.Post, a real estateinvestment trust, owns about 36,468 apartment units in 106communities, including 5,382 units under development.