The site is a 26-acre urban infill that is being developed by Continuum Partners and CIM Group. The property at 9th and Colorado Boulevard has been vacant since the medical center moved to the Anschutz Medical Campus in Aurora in 2008.
The initial scope includes the environmental abatement and complete demolition of 15 existing buildings totaling 1,985,800 sq. ft. and interior demolition of three buildings, which are anticipated to be re-purposed as a part of the redevelopment. Additional development will provide new utilities, roads, a two block underground parking structure and infrastructure to enable future development.
The development team has proposed a $419 million redevelopment that will include 900 to 1,100 units of apartments and for-sale housing, 250,000 sq. ft. of retail and 125,000 sq. ft. of office space. The plan calls for the creation of a highly walkable and bike friendly project, integrating open green space and pedestrian amenities. The redevelopment will include a horizontal and vertical mix of uses, including residential, office, retail, restaurant, hotel and public space. The retail component will focus on creating a mix of retailers and restaurants, which will include national, regional and local businesses.
The approximately $419 million redevelopment project will receive $47.9 million in tax-increment financing approved by the City of Denver and managed through the Denver Urban Renewal Authority.