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A 33 acre site that has been abandoned since CU moved to the new Fitzsimmons campus in Aurora, with an additional 4 acres likely to be added in 2013. Three different development teams have come and gone, but the first phase is finally underway with a 6.75 acre sale to the Lionstone Group for the construction of 325 market-rate apartments in the southeast section of the site. In July, City Council approved an Urban Renewal Area and an initial $2.4 million property tax increment finance reimbursement for demolition, abatement and infrastructure costs associated with Phase I.
The former St. Anthony’s Hospital, a 19 acre site undergoing demolition by EFG Partners in preparation for sale to vertical developers, will become a mixed-use, heavily residential community. A parking garage, former nurses’ residence, and a historic chapel will be preserved and repurposed. In August, Council approved the creation of Metropolitan Districts to help fund necessary infrastructure for the site including reintroduction of the street grid and utilities as well as enhanced and environmentally sustainable green spaces, streetscapes, and plazas. Council also created an Urban Renewal Area that could be used to collect TIF funds for redevelopment of retail and commercial services along Colfax.
The Big Picture: February 2015