Denver gives preliminary OK to $48M subsidy for 9th and Colorado redo
“The former University of Colorado Health Sciences Center received a big boost Tuesday with preliminary approval of a $47.9 million city subsidy for redeveloping the east Denver site.
A Denver City Council committee issued the tentative go-ahead, subject to approval from the full council Dec. 8.
“This is a very good milestone,” said Frank Cannon, development director of Continuum Partners, developer of the 26-acre property at East Ninth Avenue and Colorado Boulevard. “It allows us to keep the project moving.”
Continuum is proposing a sweeping, $419 million redevelopment that will include apartments and for-sale housing, office space and retail.
The project’s new-urbanism vibe is receiving mostly positive reviews from surrounding neighborhood groups who had fought previous development proposals that featured big-box retail components, including Walmart.
The property has been vacant — and deteriorating — since the medical campus moved to Fitzsimons in 2008.
Continuum is scheduled to finalize its $30 million purchase of the property by the end of January. Soon after, demolition and infrastructure work would begin.”
Raabe, Steve. Denver Post 18 November 2014.