Urban Land Conservancy (ULC) was founded in 2003 by Sam Gary, then of Gary Williams Energy, to address the urgent need to create and preserve affordable real estate in metro Denver. By 2002, Denver had been recognized as the second-fastest-gentrifying city in the United States. Housing costs were soaring, long-time residents were being displaced from historically Black and Hispanic neighborhoods, and home foreclosures were among the highest in the nation. Sam Gary recognized that Denver needed an urban land bank to acquire, create, and preserve real estate assets that would serve the community. ULC was established with the explicit goal of uplifting underserved communities and families through innovative and equitable real estate practices.