Colorado Real Estate Journal - March 18, 2015
Denver Union Station (DUS) Neighborhood and Transit Hub turned an abandoned rail yard into a nationally recognized urban center that links Denver and its suburbs to the world. The core comprises the 22-bay underground bus terminal, light rail train platform, the under-construction train to DIA, and the renovated historic Union Station. Surrounding the hub is 19.5 acres of commercial and residential development where 13 buildings are under construction, totaling more than 4 million square feet of commercial and residential space. The development provides downtown Denver with nearly 2 million square feet of office/ commercial space; 266,500 square feet of retail; 2,000 apartments, including affordable housing that exceeds the zoned requirements; 400 hotel rooms, and 15 acres of plazas and public space. Using incredibly complex financial sources, Union Station Neighborhood Company assembled a large team to deliver the nearly $500 million DUS infrastructure project. DUS also will feature downtown's first commuter bike station. It has been estimated that the redevelopment of Union Station equates to $3.8 billion in total economic impact as well as a continuing economic impact of $2.9 billion, including tens of thousands of construction and permanent jobs created. Developers: Mark Smith, Principal, East West Partners, Mark Falcone, CEO, Continuum Partners Architects: Marilyn Taylor, former partner of Skidmore, Owings and Merrill Owners representative for Denver Union Station Project Authority: William E. Mosher, Senior Managing Director, Trammell Crow Co., and Mike Sullivan, Vice President, Trammell Crow Co., Engineers: Alden Raine, VP and Practice Leader, AECOM General Contractor: Kiewit Construction Debt/ Equity Participant: Giles Flanagin, Senior Asset Manager, Division of Real Estate, City and County of Denver Others: Elbra Wedgeworth, President, Denver Union Station Project Authority Board of Directors; Marla Lein, General Counsel, RTD; Diane Barrett, Chief Projects Officer, City and County of Denver Plaza Landscape Architect: Hargreaves Associates Wow factor: Wynkoop Plaza, where they unpaved a parking lot and put up paradise (apologies to Joni Mitchell).