What's Happening?
The Denver Broncos have finalized the purchase of six parcels of land from SRM Concrete, totaling nearly 10 acres, in the northern section of the planned stadium and mixed-use district at Burnham Yard. This acquisition is part of a larger effort to assemble
land for the Broncos' new stadium project. The parcels, located between the Denver Water headquarters and a defunct rail yard, are valued at over $15.6 million. The Broncos have been actively acquiring land in the area, with linked LLCs spending more than $120 million on surrounding parcels. The core 58.5-acre Burnham Yard site is under a $45.8 million purchase agreement with the Colorado Department of Transportation, expected to close later this year.
Why It's Important?
This land acquisition is a significant step forward in the Denver Broncos' plans to develop a new stadium and mixed-use district, which is expected to have a substantial impact on the local economy and community. The project aims to create a vibrant area that includes commercial, residential, and recreational spaces, potentially boosting local business and tourism. The development is also expected to create jobs and increase property values in the surrounding area. However, challenges remain, including the relocation of Denver Water's 20-acre site, environmental remediation of the old rail yard, and securing community benefits agreements.
What's Next?
The Broncos are working towards starting construction by spring 2027, with a target opening date in 2031. The next steps include addressing the relocation of Denver Water, finalizing community benefits agreements, and obtaining city council approval for the small area plan by January. Environmental remediation of the site is also necessary before construction can begin. The team president, Damani Leech, has expressed frustration with the pace of the process, but the recent land acquisition marks progress in the project.
