Brue Capital Partners in partnership with KAGE Partners and Tice Capital to purchase 13 acres of unimproved land adjacent to downtown Denver, Colorado. The property is located in the River North Arts District (RiNo) along the southern end of Brighton Boulevard, just four blocks from Coors Field, in the neighborhood commonly known as Denargo Market. The zoning of the site is very favorable, with the majority of the assemblage included in a General Development Plan that permits a variety of residential and commercial uses and height limitation that range from 55' to 220' with the majority of the site containing a 75' height limitation.
RiNo neighborhood Overview
Denver’s River North district (“RiNo”) is at the heart of a revitalization of a once thriving industrial district into a vibrant mixed-use community. As one of Denver’s most sought-after neighborhoods for development, real estate opportunities abound in this unique district located in the direct path of growth from Downtown Denver. This creative district is largely impacted by the natural growth of Downtown Denver and offers many amenities that attract the highly-skilled millennial work force. While visionary developers have been active in RiNo over the last decade, the area is attracting increasing attention from a larger cross section of real estate developers, occupiers, owners and investors. Following the announcements several years ago of a new RiNo light rail stop and a recent announcement by the City to provide $29 million of improvements to the once-blighted Brighton Boulevard, redevelopment of the area has followed suit very swiftly and property values have risen dramatically.
-Denargo Market Aerials-
In the mid-2000s, after several years of limited activity, RiNo began to garner the attention from public and private investors. Increased interest began after the City and County of Denver designated three “Areas of Change” within the RiNo district from the 2002 Blueprint Denver report. Both private and public investment started to emerge in the area, with $47 million in government funds invested into North Denver in 2015 alone for infrastructure improvements. These improvements include the reconstruction of Brighton Boulevard, which will improve pedestrian use, bicycle lanes, and curb appeal along a once desolate area of town and transform Brighton Boulevard into ‘The City’s Front Door’. The first developer to capitalize on the opportunity was Zeppelin Development with the purchase of a 20-acre site that was formally the Yellow Cab dispatch and maintenance center and corporate headquarters. The planned 210,000 square foot project spanned from 2001 through 2008 with the addition of TAXI, TAXI 2, Drive and Freight. The pioneering success Zeppelin experienced led to redevelopment of 3001 Brighton Boulevard, an old warehouse facility, by the Winkler family. Now called Industry, this project drew attention from start-ups, business services, professional services, and communication sectors before its 2014 completion date and is now fully occupied. A list of other projects planned for the neighborhood are listed below:
Projects in the Neighborhood
recognizing RiNo's Importance
As excitement grew around RiNo, FasTracks in 2004 announced preliminary placement of RTD’s commuter rail tracks that would bolster the connectivity of RiNo to major hot spots in Denver. In Spring 2016 the East Rail Line, or A Line, is scheduled to be completed. The commuter rail will run between the newly developed Union Station in LoDo to Denver International Airport (DIA). In November 2015, RiNo landowners voted to start a 450-acre business improvement district and a 300-acre general improvement district that together will bring in about $1 million in new property tax revenue to help spruce up the fast-growing neighborhood.
The downtown region will continue to be the center of business and cultural activity for the Denver metro area, yet the geography and growth of downtown Denver necessitate development further into RiNo. As additional start-ups, investors, developers, and residents move to RiNo to capitalize on the exponential potential, it will continue its transformation into one of the liveliest parts of Downtown.