A new $3.1 billion dollar development coming to the E-470 corridor in Aurora will bring nearly 5,000 new homes and 53 acres of parks and open space to the area. Located along 56th Ave. and E-470 in Adams County, the proposed development—Windler Public Improvement Authority—will include nearly 5,000 residential units, more than 2.2 million square feet of industrial, office and retail space, 750 hotel rooms across five hotels and 53 acres of parks and open space.
The developer group is GVP Windler, LLC. PCS Group is the architect and Piper Sandler’s Special District Group secured $287 million in funding for the project.
“As leaders in property and sales tax-backed transactions, we pride ourselves in creating unique financing structures in partnership with local governments and real estate developers to fund the public infrastructure needs of growing communities,” said Shelby Turner, senior vice president and public finance investment banker at Piper Sandler. “We’re excited to see Windler come together and provide versatile residential choices along with accessible community amenities to the ever-growing metro Denver area.”
Experts in special district and tax-increment financing, the Piper Sandler Special District Group serves clients across the country with dedicated teams in Denver and Salt Lake City by collaborating with local governments and real estate developers on innovative infrastructure financing.
“Every new special district we create in Colorado and beyond will ultimately lower home prices by providing governments access to low-cost, tax-exempt funding for roads, parks, water and wastewater infrastructure early in the development process,” said Zach Bishop, managing director of the Piper Sandler Special District Group. “Special districts and Public Improvement Authorities like Windler are providing solutions to the growing pains of our state and will help cities and counties cover some of the cost of this public infrastructure.”
Construction is expected to start in 2022 with completion expected by 2032.
