(rshsdepot) Union Station (Denver, CO)

[I95BERNIEW_@_aol.com]

From the Denver Business Journal.
 
Bernie Wagenblast
 
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
 
Redevelopment of Denver's Union Station set to start
 
Denver Business Journal


A letter of intent between the principal groups redeveloping downtown  
Denver's historic Union Station area will be announced Monday afternoon at the  
Hogan & Hartson law firm. 
 
The redevelopment is expected to cost nearly a half-billion dollars and  take 
until 2014 to complete. 
 
The agreement is between privately held Union Station Neighborhood Co., a  
joint venture between East West Partners Inc. and Continuum Partners LLC, and  
four government agencies. Those agencies include the city and county of Denver, 
 Denver Regional Council of Governments (DRCOG), Colorado Department of  
Transportation (CDOT) and the Regional Transportation District (RTD). 
 
The announcement is being held at 1 p.m. at the Hogan & Hartson law  firm, 
because managing partner Cole Finegan represents the Union Station owners.  
Finegan is a former Denver city attorney. 
 
Even though the East West/Continuum venture was selected as the Union  
Station redevelopment's master developer in late 2006, it has taken until  recently 
to finalize a letter of intent among all the parties involved in the  project 
because of its complexity. Both the public and private entities  particularly 
had to hash out funding issues. 
 
The redevelopment's cost is estimated to be $477 million, according to a  
December 2007 update by the Union Station Advisory Committee. 
 
When East West and Continuum won the job of being Union Station's master  
developers, they said the redevelopment would include 1.8 million square feet of  
space that would take nine years to build. 
 
An updated schedule of infrastructure completion, according to the December  
report, includes: 
 
2009 -- Light rail terminal to be completed in fall. 
2010 -- Forecourt  Plazas to be finished in summer, and bus terminal in fall. 
2012 -- Bus  terminal to be operational, and commuter rail to be completed in 
summer. 

Several thousand square feet of office and retail spaces, residential  space 
and possibly a hotel are scheduled to be finished between 2010 and 2014,  the 
report said. 
 
Union Station's redevelopment is part of RTD's $4.7 billion FasTracks  
program to expand mass transit in the Denver area. Scheduled to be completed in  
2017, the plan includes adding new light rail, expanding bus service and adding  
more than 20,000 parking spaces. 



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End of RSHSDepot Digest V1 #1675
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The Railroad Station Historical Society maintains a database of existing
railroad structures at: http://www.rrshs.org