Black Creek Capital Makes Provisions for Affordable Housing Components

DENVER-Black Creek Capital, one of the most successful local developers, is launching a new entity to incorporate affordable housing into its projects. Black Creek Communities LLC will be headed up by Troy Gladwell, who formerly had served as president of the Colorado Affordable Housing Partnership, an organization that promotes low-income housing awareness, initiatives and legislation. He currently serves on the South East Business Partnership’s work force.

Black Creek, which develops a wide-range of projects, has done a number of projects that incorporate affordable housing in them. “The wonderful thing is, by paying attention to the details, you can create a mixed-income, mixed-use community that compares with high-end luxury at considerable cost savings,” Gladwell tells GlobeSt.com. “A market-rate resident lives next to a single mother in an affordable unit, but the units are identical.”

John Blumberg, Black Creek founder and principal, says he thinks the relationship with Gladwell will create a great partnership. “Troy is a leader and visionary for affordable housing in Colorado, and Black Creek has become one of the most prolific developers of workforce housing,” says Blumberg.

Peter Neukirch, executive director of the South East Business Partnership, says the partnership “brings together individuals that share a strong commitment to the community.”