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$92M of Financing Secured for Aurora Crossroads and High Point Developments in Aurora

Financial services firm D.A. Davidson & Co. has secured nearly $92 million of tax-exempt bonds to fund the development of Aurora Crossroads and High Point, two Westside Investment Partners projects located at the southeast corner of the high-profile intersection of I-70 and E-470 and at the intersection of E-470 and 64th Avenue in Aurora.

These financings are the latest in a successful series of special district transactions in recent years that have raised $1.2 billion in capital to finance public infrastructure in and surrounding the airport growth corridor, which spans developments in Denver, Aurora and Commerce City. Projects in early stages of development have benefited from a low interest rate environment, with the Aurora Crossroads bonds being issued at 4.625 percent and 4.875 percent rates.

“The Davidson team was pleased to raise significant infrastructure dollars for the Aurora Crossroads and High Point developments, which will ensure the continued development of these high-profile locations in the City of Aurora and the greater airport growth corridor notwithstanding current uncertainties,” said Laci Knowles, senior vice president, Special District Group at D.A. Davidson. “Growth in our state pays its own way, and these early stage financings continue to pave the way for incredible new projects that will provide important services and a sense of community for city residents and airport visitors alike.”

Aurora Crossroads includes about 209 acres of land under development at the southeast intersection of I-70 and E-470. The portion of High Point securing this latest financing is approximately 272 acres along 64th Avenue north of Painted Prairie and intersected by E-470. Upon completion, the projects are planned to include:

  • A six-story regional hospital and medical offices adjacent to Aurora Crossroads
  • The JP Morgan Chase bank data center, which opened early in 2020 at the Aurora Crossroads site
  • A 125-room hotel and over 300,000 square feet of commercial development at Aurora Crossroads
  • A 100-room hotel and 713 multifamily residences at High Point
  • Mixed use development at High Point that will include 800,000 square feet of retail, 175,000 square feet of mixed use commercial and another 175,000 square feet of office space
  • Another 152 acres planned for industrial development at High Point

 

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