RTD Transit Oriented Development 2012 Status Report
“Planning is still underway on the Welton Corridor Pilot Project. The Five Points Business District (FPBD) built off the work of the Urban Land Institute in 2011 and developed a series of development scenarios for multiple parcel configurations along the Welton Corridor. These scenarios evaluated specifically what building forms were allowed by local zoning and building regulations. In turn these designs informed what uses could be developed to produce a financially feasible project. The FPBD and their team of consultants will use this information to inform other property owners in the Corridor interested in redevelopment what options are available and what expectations are reasonable. RTD will continue to work with FPBD in 2013 to develop a corridor-wide redevelopment strategy and to identify RTD’s role.” page 1-4
“Welton/Downing Corridors – 20th, 25th, 27th, 29th & Welton Stations, 30th, 33rd, 35th & Downing Stations RTD continued to make progress on the Welton Corridor Pilot Project throughout 2012. DURA created an Urban Renewal District (URA) for the Welton Corridor in 2012 that was eventually approved by the Denver City Council. This new URA will allow tax increment financing for potential catalytic projects, including future plans for RTD’s pilot project properties. Building off of 2011’s Urban Land Institute Technical Assistance Panel, the Five Points Business District (FPBD) and its team of consultants assisted RTD in developing further details about what TOD on the 29th and Welton parking lot could look like. Architects developed a series of potential building concepts with enough detail to ensure that each structure would adhere to local building code and that exact leasable square footages and unit counts were known. This information will then be analyzed by development and market experts to determine how feasible each concept is and what, if any, subsidy is needed from DURA or other sources. The FPBD is collecting this information for multiple parcel types along the corridor with the expectation that this work will establish a clearer redevelopment strategy for the entire Welton Corridor.” page 4-6
van Meter, Bill RTD General Manager Planning March 2013.