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All Aboard
Continuum/East West team wins Denver Union Station redevelopment
The team of Continuum/East West Partners - now known as Union Station Neighborhood - was named in November as the master developer for Denver Union Station, promising to finish the project by 2011. Once it's fully built, the landmark redevelopment will be worth an estimated $1 billion.
By Diana Murphy
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| Rendering courtesy of Union Station Neighborhood Co. |
The master developer team led by Continuum/East West will
spearhead the $420 million redevelopment and preservation
of Denver's historic Union Station.
The revitalization of Union Station - the central hub for
the Regional Transportation District's $4.7 billion FasTracks
transit system build-out - will be the city's largest project
since construction of Denver International Airport in the
early 1990s. At full build-out, the development will be worth
approximately $1 billion, city officials said.
The mid-November announcement was the culmination of an 18-month
process that drew an initial 11 competing teams, with the
last five months focused on two teams - Continuum/East West
and Union Station Partners, which included Cherokee Investment
with Buchanan Yonushewski Group, Hensel Phelps Construction
and others.
"As a community, we are extremely grateful to both teams
for the tremendous effort and expense they put forth to help
the region get the best possible project for this important
public investment," said Denver Mayor John Hickenlooper.
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'Crown Jewel'
The Continuum/East West team - which unveiled its
new name, Union Station Neighborhood Co. - is now in negotiations
with the four partnering agencies responsible for the project-RTD,
City and County of Denver, Colorado Department of Transportation
and Denver Regional Council of Governments.
"Denver Union Station will be the crown jewel of the
entire FasTracks region-wide transit system," said RTD
General Manager Cal Marsella. "We are pleased to have
Continuum/East West on board and are eager to begin detailed
negotiations so we can move forward with this critical project."
While members of the Union Station executive oversight committee
lauded both proposals, financial feasibility and risk factors
tipped the balance in favor of Union Station Neighborhood
Co., whose overall cost was an estimated $75 million less
than the Union Station Partners' plan.
"Both teams presented compelling proposals that provide
a high degree of expertise in delivering the Denver Union
Station project," said CDOT Deputy Director Peggy Catlin.
"Ultimately, we made the best public policy and business
decision for the four partnering agencies, and we are excited
to move forward with this visionary plan."
Mark Smith, president of East West Partners Denver, said the
team was "humbled to be selected to move forward in a
process that will ultimately lead to carrying out this important
project for the Denver metropolitan area and the entire region.
"We credit the process with bringing forward the best
transportation and urban design solutions available,"
Smith said.
Winning Plan
The Union Station Neighborhood Co. team includes Continuum
Partners, East West Partners, Kiewit, DMJM Harris, Skidmore,
Owings & Merrill, Kaplan Kirsch & Rockwell, PACO Group,
Civil Technology Inc., DRG Construction and Ronald A. Straka
Urban Design.
Highlights from its winning plan include:
Completion of all transportation and street-level improvements
by 2011, including build-out of the light rail and commuter
rail facilities, as well as integration of the regional bus
system onsite;
Full undergrounding of the commuter rail and regional bus
components;
Redevelopment of Union Station's forecourt and revitalization
of the existing train room concurrent with the transit construction;
Vertical, private development fully integrated with the
public transportation components;
Proposed 1.8 million sq ft of development over nine years,
with an achievable financing plan;
Commitment to 15 percent Small Business Enterprise participating
in pre-development activities;
Development that complements the character of the historic
neighborhood and creates significant public space and pedestrian-friendly
connections.
Continuum CEO Mark Falcone said the project's biggest challenge
will be integrating the transportation and vertical components.
"Any major mixed-use project is complex, but layering
into that this major transit infrastructure almost complicates
everything by a magnitude of four," Falcone said.
Peter Park, Denver's director of planning, said successful
urban design integrates many elements, including how people
experience a place as they're built and as they exist.
"This proposal is an amazing proposal in how it integrates
all these elements," Park said. "The plan builds
on the existing strengths of the neighborhood and elevates
the historic purpose of this station."
Public Funding
The Union Station redevelopment is part of RTD's voter-approved
FasTracks program, a 12-year transit expansion program across
the RTD service area that earmarks $213 million for Union
Station. Other public funding for the project includes $67
million from the partnering agencies.
A $140 million Transportation Infrastructure Finance and
Innovation Act loan will cover the rest of the cost. It
will be repaid by tax increment financing, Metro District
revenues, development rights, historic tax credits and new-market
tax credits.
"Denver Union Station is the multimodal hub for the
entire region," said DRCOG Executive Director Jennifer
Schaufele. "The Continuum/East West team's proposal
ensures that all of the transportation components will be
built sooner than the master plan envisioned. The private
development will be fully integrated with the public transportation
components and create an active and vibrant hub for the
entire Denver metro region."
Project Highlights
Transit
Full build-out of new light rail station at the terminus
of the new 17th Street Transit District;
Creation of a new underground commuter rail station co-located
with new underground regional bus terminal;
Extension of 18th Street through to the Central Platte
Valley;
Creation of a covered moving walkway connecting light
rail and commuter rail;
Incorporation of 16th Street Mall Shuttle and new 18th
Street Circulator with direct access to light rail, commuter
rail and bus terminals; and
Inclusion of commercial bus facility in close proximity
to Union Station.
Development
Redevelopment of public spaces in front of historic Union
Station;
Revitalization of train room in Union Station to include
market and other retail space;
Creation of new "wing buildings" containing
commercial and residential space on either side of Union
Station;
Creation of a new 17th Street Transit Plaza from Union
Station to the new light rail station;
Construction of two 23-story buildings containing office
and residential space to the west of Union Station;
Development of retail locations at the base of buildings
along the new public plaza;
950,000 sq ft of new office space proposed;
300,000 sq ft of retail space proposed;
950,000 sq ft of residential space proposed; and
1,980 parking spaces proposed.
Source: Union Station Neighborhood
Co.
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