Developers plan to revitalize area and create new urban center
The National Park Service recently gave approval to the Union Station Alliance to move forward with the remodel of Union Station. This news came just a few days prior to the groundbreaking ceremony of a new high-rise apartment complex in the same area. Currently, not many people travel to the area, but developers are looking forward to the new additions surrounding the historical train station.
Real estate in Denver is stabilizing after the past three years of dark outlooks, and real estate experts have a positive attitude about the recovery of the market. Steady sales are indicating a rebound from the 2009 bottom, and developers of the new complex are excited to build almost an entirely new community to attract more people to the city.
As a part of the revitalization project of Union Station and the surrounding area, the alliance will remodel the inside of the train station and enhance some of the dynamic features on the facade. Currently, workers are underground constructing a regional bus facility, which is approximately 70 percent complete. The facility will house 22 bus bays and span 1,000 feet.
The transportation project is slated to open up in 2014 and will be a hub for the Regional Transportation District’s FasTracks program, and will feature commuter rail, Amtrak and light rail, as well as regional, express and local buses, a mall shuttle, vans, taxis, bicycles and pedestrians. The Alliance is also hoping to build a 130-room hotel, retail shops and restaurants.
Mayor Michael Hancock told the Denver Business Journal that the new development will help employers attract workers to the area, and has high hopes for a young professional crowd who enjoy an up and coming urban environment. An investment of more than $1 billion was poured into the project, and Zocalo principal, David Zucker believes it is worth it.
"It was a tough one to get done for the city, for development teams and RTD," Zucker told Denver NBC affiliate KUSA. "Success though is that private money is following the public money. So our LEED certified project of 219 units is really a perfect place for an auto-independent residential project right in the heart of things, making use of all that infrastructure."