Two development groups, two proposals, and one pushed back deadline to decide.
The Regional Transportation Districts (RTP) Board last night held a meeting where they posed questions to the two competing groups in an effort to reach a decision on who’s proposal best serves the needs of Denver and the future life of Denver’s historic Union Station.
The board originally planned to reach a conclusion last night but rather than making a decision they allowed each of the competing development teams to make additional efforts to support their proposal. After meeting behind closed doors the board announced that the decision would have to wait.. at least until December 6th.
The two teams are the Union Station Alliance (USA) and the Union Station Neighborhood Company (USNC).
As summarized by the Denver Business Journal the two proposals are described as:
Union Station Alliance: Hotel with retail.
Union Station Neighborhood Company: Market with office space, restaurants and retail.
RTD's staff, and an evaluation panel of government officials and real estate experts, has recommended USA's $48 million plan for a hotel at the station, but USNC members argued that their proposal better preserves the historic nature of our iconic Denver landmark.
Both proposals can be linked to from the website and there is an online poll that has been set up on the Denver Business Journal’s website here.
Denver loft and condo and residents in Riverfront Park, LoDo, and other nearby neighborhoods are following (As we are) this pivotal decision. The new Union Station area will be a wonderful mixed use neighborhood in the center of our city providing new restaurants, retail, and of course residential downtown Denver lofts and condos.
All of us at New Era Realty follow the urban developments of Union Station and the surrounding areas in our rapidly developing city. These are great improvements for our city and we look forward to these new urban amenities for our Downtown Downtown Denver loft and condo clients and friends.
We look forward to learning more about who will win this proposal and lead the redevelopment of Denver’s historic Union Station.
To learn more about Denver real estate please contact any of us at New Era Realty.