The Denver City Council approved the Ironworks Foundry Urban Redevelopment Plan, which was presented by the Denver Urban Renewal Authority. Included in the plan is a European-style open market concept called “The Source,” a project that will bring retail, restaurant and kiosk type artisanal tenants to Denver’s River North, or RiNo, neighborhood.
Passage of the plan, approved by the council on Monday, creates the Ironworks Foundry Urban Redevelopment Area, allowing for the use of tax increment financing to support redevelopment efforts of the 25,600 square-foot site located along Brighton Boulevard. DURA will invest approximately $1.12 million in sales and property TIF to make vital public improvements to the site, including the installation of sidewalks, curbs and gutter infrastructure, new utilities, electrical, plumbing, HVAC and fire- and life-safety systems.
“The Ironworks Foundry Urban Redevelopment Plan is an exciting development for Denver residents because it reactivates a dilapidated building in a burgeoning city neighborhood, and brings a very unique project like The Source to the Denver community,” said Tracy Huggins, executive director at DURA.
The project’s developer, Zeppelin Development, is best known in the RiNo neighborhood for its TAXI development, a mixed-use project along the Platte River on the former site of the Yellow Cab central office.
For more than a century, the Ironworks property has been used primarily for industrial and warehouse purposes. The buildings were constructed in the 1880s as part of the Colorado Ironworks Department and were first listed as blacksmith and boiler shop. Most recently, the site was home to Bud’s Warehouse until 2010, and it has been vacant since.
Zeppelin Development is projecting that the site will be ready for business in early 2013.
Have a story idea or real estate tip? Contact John Rebchook at JRCHOOK@gmail.com. InsideRealEstateNews.com is sponsored by Universal Lending, Land Title Guarantee and 8z Real Estate.com.
This is so awesome! I dont live far from here and I will definitely be there quite often once theyre open. The Zeppelins are such an asset to RiNo and the development community!
I am not exactly sure where this is, I am estimating 31st and Brighton. It is hard for me to imagine the demand for such a development in that area. But it is not an area I frequent, so what do I know.
More data at
http://www.denvergov.org/Portals/646/documents/Planning%20Board/DURA/Ironworks%20Foundry%20Staff%20Report%20with%20attachments.pdf
41 pages of data
33rd and Brighton Blvd (which I remember as being an industrial slum)
looking at the lot on google maps satellite view, I am even more confused by the site selection
JohnD–its the largest and most active art District in the City. Get out from in front of the comp and check out RiNo. Its not LoDo or Highlands (and doesn’t aspire to be) but lots of interesting things happening.