03/16/2023
Land Title Guarantee Company and NAIOP Colorado Chapter, are thrilled to announce the highly anticipated The River Mile Project, developed by Revesco Properties and Kroenke Sports & Entertainment, will be the development site for the 21st Annual Rocky Mountain Real Estate Challenge. The Challenge, to be held on April 27, 2023, is sponsored by the U.S. Forest Service and Impact Finance Center (IFC), whose goal is to educate the next generation of MBA students and the real estate development community about the benefits of mass timber.
The Challenge is the premier real estate competition that pairs graduate-level students from the Leeds School of Business at the University of Colorado Boulder and Franklin L. Burns School of Real Estate and Construction Management with industry leaders in the Colorado real estate community to evaluate development opportunities. The focus of the 2023 competition is the 62-acre The River Mile project located on the current home of Elitch Gardens amusement park. A truly one-of-a-kind project and the largest in downtown Denver, The River Mile is envisioned as a sustainable, walkable downtown neighborhood. It will feature state-of-the-art residences with public parks and promenades, and a variety of shopping, dining, entertainment, and cultural destinations all located along one mile of renovated South Platte riverfront. The project will also include build-to-suit workspaces ranging from business incubators to regional corporate headquarters, all with access to two light rail stations.
“Adjacency to the South Platte River plays the integral role in the development of this important urban area,” said Rhys Duggan, CEO of Revesco Properties. “So much so, that before the first building foundation is poured, the river is being revitalized along The River Mile and far beyond. It’s a major undertaking we’re committed to in partnership with The Greenway Foundation and the City of Denver to reaffirm the importance of the South Platte as an essential part of the regional ecology. The restoration will add 27 acres of waterside parks and open space, and it will help to energize this new downtown neighborhood emerging at the river’s edge.”
Within this 62-acre parcel, student teams are tasked with determining where at the project is the best location to start development and to attract users and subsequent residents and visitors. While creating a sense of place in this initial phase, student teams will need to comply with The River Mile zone district, including affordable housing requirements, as well as maximizing the use of Mass Timber in their proposal with a minimum of 20% of proposed buildings using mass timber for construction.
Read more at https://www.naiop-colorado.org/real-estate-challenge-news
