Sharing Connexion recently acquired 1550 Elmira St in Aurora, Colorado assisting local nonprofit, Caring and Sharing Community Resource and Transformation Center, or Caring & Sharing for short. Led by Executive Director Dara Goldsby, Caring & Sharing serves as a resource navigator and community hub for a variety of social work needs, including: counseling for reentry; food bank; basic human needs, such as bus vouchers, emergency materials, and household items; and assisting homeless to find housing, securing vouchers, or securing immediate shelter in a hotel. Caring & Sharing also uses their multi-purpose room for events and trainings and has partnerships with other local nonprofits who use their facility for their trainings.
Caring & Sharing was renting its current facility for several years at a below market rental price of $1,500 per month. Built in 1969, the property is a two-unit, 1,994 SF commercial building. They are currently maximizing their space, with a meeting space for social workers and counselors, two training centers for events and rental space for nonprofit trainings, a storage space for household items and emergency materials, and a food bank. Caring & Sharing’s landlord was a motivated seller planning to list the property for sale in late 2021. While Caring & Sharing hopes to own their facility in the future, at this point they need rent stabilization to stay in their current facility where they have strong neighborhood ties and have customized the building for their use.
Dara Goldsby, Executive Director of Caring & Sharing, says, “This type of facility in this area is in high demand. It allows us to continue to serve immediate and emergency needs of less fortunate community members through our direct and basic human needs services. Due to the continued and countless hardships and struggles of individuals and families in this area, it is very important to us to have an accessible and friendly facility in this neighborhood, offering and providing free and effective community resources that enhance the lives of those who seek our services.”
Sharing Connexion is committed to helping nonprofits with a threat of displacement. This project is an initiative of Sharing Connexion’s Real Estate Rescue program, which preserves and protects nonprofit real estate assets from displacement through a unique short-term acquisition solution. At closing, Sharing Connexion provided 3 years of rent stabilization (honoring their current $1,500/month below-market lease) and included a three-year purchase option. The purchase option is fixed at the purchase price with a 2% escalation to cover Sharing Connexion’s operating costs.
“The help we received from Sharing Connexion has allowed us to continue to stay in the facility and neighborhood of our choice, where we have been relationship building and serving for several years. This journey with the wonderful people at Sharing Connexion is very exciting and will be an enhancement to the mission, goals and success of Caring & Sharing Community Resources and Transformation Center. Through their support, we will successfully and effectively continue to embrace the lives of others and help positively transform individuals and families that seek our service. We are beyond appreciative and grateful for Sharing Connexion’s kindness and willingness to work with Caring & Sharing,” says Dara Goldsby.
Sharing Connexion happily supported this mission and gladly preserved the affordability of an important community asset. According to the Urban Displacement Project, this area is at risk of gentrification. As a nonprofit led by BIPOC community leaders in an area that has many low-income needs and people experiencing significant displacement, Caring & Sharing serves as an essential community resource hub with roots in this location.
“Caring & Sharing faced a common issue for local nonprofits. The good news is that there are solutions,” said Emily Nilsen, Sharing Connexion’s Operations Director. “It took some creative maneuvering to get this project to work, but we are solutions oriented. We plan to scale the Real Estate Rescue program over the next few years, because we know that many community-serving organizations can better serve their missions when their facility costs are stable and affordable.”
If you would like to learn more or make an inquiry about the Real Estate Rescue program, please visit the Real Estate Rescue page. If you would like to download the press release, click here.
