Mixed-Use Transit-Oriented Development Gets Green Light in Adams County
By Gabriel Circiog, Associate Editor
The Adams County Board of Commissioners recently unanimously approved the Clear Creek Transit Village—a mixed-use transit-oriented development project in Denver, Inside Real Estate News reports. The Denver Transit Oriented Development Fund LLC, managed by New Orleans-based The TOD Group, acquired the 21.8 acre property in February 2009. The TOD Group has now announced that it is in talks with national builders to construct up to 1,125 apartments, townhomes and condominiums, as well as around 250,000 square feet of commercial space.
Located at 6001 Federal Blvd. near West 60th Avenue and just north of Interstate 76, the site lies along Clear Creek and is situated close to Lake Sangreco and the Jim Baker Reservoir, offering clear views of the Rocky Mountains to the west. The RTD Fastracks Gold Line—which is scheduled to open in 2016 and will run from the Denver Union Station to Wheat Ridge—is less than a quarter of a mile from the Clear Creek Transit Village site.
The residents will be able to connect via rail to the ski train to Winter Park and Denver International Airport and will also have connections to every major employment cluster, including Denver Tech Center, Boulder, Golden, Interlocken, the Medical Center and Downtown Denver. Additionally, the development will provide access to biking, running, rollerblading and walking through a regional network of multi-use paths.
According to an analysis completed by Economic Strategies LLC for Adams County, the new buildings are expected to have a construction value between $160 million and $170 million by 2020. An estimated 1,970 to 2,812 people could live in the community.
For more market data on Denver, please click here.
Sketch Courtesy of: www.thetodgroup.com