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RTD nabbing more land?Even Broncos coach may lose land in RTD FasTracks projectPeter Marcus, DDN Staff WriterMonday, July 21, 2008 | |
Even Denver Broncos head coach Mike Shanahan may be impacted by RTD’s FasTracks land acquisitions.
Property owners along the future 23.6-mile FasTracks commuter rail East Corridor between Denver Union Station and Denver International Airport could be facing unexpected land buy-outs or condemnations.
The Regional Transportation District will hold two public meetings this week to discuss the situation, which came about after the agency decided to locate its commuter rail maintenance facility at the Platte Division bus center at 31st Street and the South Platte River. The original plan was to establish the maintenance facility at the Union Pacific 36th Street Yard maintenance facility. But FasTracks spokeswoman Pauletta Tonilas said an agreement with Union Pacific could not be reached because the rail transportation company wanted too much money. Because the rail maintenance facility is now planned for the current RTD bus maintenance facility at 31st Street, refinements in alignment are necessary and RTD may need to acquire parts or entire pieces of private property to make the corridor work.
“It looks like we may have to end up purchasing commercial properties and a handful of residential properties,” said Tonilas. “Even though we were able to work with the City and County of Denver to use some right of ways and minimize the number of properties impacted, some properties will still be impacted.”
Properties along the East Corridor facing acquisition are:
• Between Denver Union Station and 40th Avenue (part of the north Coors Field parking lot);
• On East 42nd Avenue between Columbine Street and Colorado Boulevard (east of Josephine Street);
• On Colorado Boulevard along Smith Road to Quebec Street.
RTD is now charged with the task of finding a new location for the bus maintenance facility that is currently at 31st Street. Tonilas said the agency has determined a “preferred location” at the old 44-acre Denver Post printing plant southwest of the Interstate 25 and Interstate 70 junction.
But developer Graham Benes, president of Denver-based Ascendant Development, said he will fight tooth and nail to protect his investment, which includes Shanahan as a stakeholder. Benes had originally offered to sell the property to RTD for a rail maintenance facility, but said a bus maintenance facility completely changes the dynamics and value of the deal.
“RTD of course says they will pay market value, the highest and best price. But our plans are for a more mixed-use development,” he said.
Ascendant purchased the property five months ago for a little over $17 million. Benes said he already has a letter of intent with an undisclosed retail developer to purchase the property for over $48 million. But he said the threat of condemnation will likely sour the deal. He added that his firm has other ideas for the property.
“We’re not in a hurry to start developing, this is more of a long-term investment,” said Benes. “With a commuter rail station planned for somewhere between three or four blocks away, we want to stay for the long-term … this could become something like a mixed-use retail, quasi-industrial development with some multi-family.”
Meanwhile, RTD is urging property owners along the future East Corridor to attend the public meetings this week to learn what changes could be in store for them.
East Corridor is changing:
5-7:30 p.m.; presentation at 6 p.m.
EastCorridor.com
WEDNESDAY
Montbello Recreation Center
15555 E. 53rd Ave.
THURSDAY
Bruce Randolph Middle School
3955 Steele St.
MEETING FOR BUS AND COMMUTER RAIL
MAINTENANCE FACILITIES
Tuesday, 6 p.m.
Transfiguration of Christ Cathedral, 349 E. 47th Ave.
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