5280 Magazine did an outstanding article on a development that will reshape Downtown as we know it today. Below are the highlights, but you should take the time to read this one!
“The new River Mile atop the Elitch Garden site is the most ambitious private urban redevelopment plan Denver has ever seen… Duggan thinks of central Denver “like a giant doughnut,” with the River Mile as the piece that will fill the hole in the middle.”
-
62 – prime acres adjacent to a prospering city’s downtown
-
9.5-acre, $500 million to redevelop Union Station for comparison
-
$140M – the land deal
-
$3.4B – the cost of Stapleton redevelopment
-
25 years to build River Mile
-
12M sf of commercial/residential property to the city center
-
20% increase in the available space that currently exists downtown
-
15,000 residents accommodated
-
53 year old Duggan is leading the project
-
$9.7 billion is the net worth of “Mr. Kroenke”, Duggan’s equity partner
-
49th-wealthiest person in the world (Kroenke)
-
20% increase in Denver population since 2010
-
1,000 residents per month moving to Denver
-
90,000-square-foot Meow Wolf building is the first official building within the neighborhood and is projected to open in 2021
-
2045 is the goal for the project for completion
-
2018 when the City Council approved the rezoning on the land
-
$600 million in metro-district taxes for infrastructure to be footed by the neighborhood’s future occupants
-
$60 million dredged and deepened the South Platte
-
250 public and private meetings over the past two years for community input
-
200-foot height cap eliminated by the city on River Mile buildings, essentially giving unlimited vertical access in parts of the development
- 15% of the River Mile’s 8,000-or-so planned residences would fall below market rate
