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Apr 14, 2017

Potential Mixed-Use Project Could Go Up in Big Denver Parking Lot

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A large parking lot in downtown Denver that has enticed developers for decades could soon see the construction of a mixed-use project.

The lot, which contains spaces for around 1,800 vehicles, is part of the larger 67-acre Elitch Gardens Theme and Water Park, which runs parallel with the South Platte River.

Elitch Gardens was purchased two years ago by the Denver-based Revesco Properties, a real estate investment firm.

Since that purchase, the park, which features a variety of roller coaster and water rides, has seen around $4 million in improvements.

But because of the parking lot’s size, comprising nearly 17 acres, and the fact that Elitch Gardens is only opened half a year, developers have said that the space could be put to better use.

Now a move is underway to have lot redeveloped for what could be a mix of residential, retail, and office use—still leaving some space for parking.

City of Denver officials say a series of public input meetings are expected to be held soon asking residents for ideas on how to best utilize the space.

Although no timetable has been announced for the redevelopment, any plans for the lot would have to first be approved by the Denver City Council.

Opened in 1890 at another location, Elitch Gardens moved to its current location at 2000 Elitch Circle in 1995. Last year it saw more than 1 million visitors.

 

By Garry Boulard

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