South Platte corridor ripe for investment

The South Platte River corridor has the potential to draw investment of nearly $260 million that could generate 773 construction jobs and 352 permanent employment positions with an average annual salary of $55,370, according to a recent study commissioned by the City and County of Denver.

About 1,230 new residents would live near the river in these developments, a 16 percent increase above the current residential population of 7,500 in the corridor. The new residents could spend $8.7 million each year on taxable goods purchased in Denver, according to the study funded by an EPA Brownfields Area-wide Planning grant.

The study focused on five neighborhoods considered opportunity areas and catalytic sites. The criteria for site selection included underutilized sites that had a potentiall strong relationship to the river and that were potentially catalytic and beneficial to the surrounding area and adjacent greenway. The review of each site explored ideal orientation of new development to the river, site access and neighborhood circulation for pedestrians and vehicles and innovative opportunities for capturing and sustainably treating stormwater generated from impervious surfaces.

The sites selected included:

• River North (RiNo) -- a 5.5-acre site between the river and Brighton Boulevard that could accommodate 333 new residential units, 43,600 square feet of office/flex space and 23,500 square feet of street-level retail.
• Water Street in the Jefferson Park neighborhood -- Infill development could introduce 384 residential units and 12,45- square feet of retail and restaurant space.
• Zuni and Lower Colfax Avenue -- A 4.8-acre site between Zuni and the river could yield 12,000 square feet of retail, 51,600 square feet of office and 320 residential units.
• Alameda -- An eight-acre commercial block just south of Alameda Avenue on the west side of the river could attract new business with office and light assembly or warehouse needs, education facilities, human services, retail and other non-residential uses.
• Evans and Huron -- a 5.2-acre site could be converted into 192 residential units and 26,000 square feet of retail or office on the ground level.