Denver International Airport (DEN) recently announced that two DEN-owned development districts, Peña Station Next and 40th & Airport, are located within census tracts nominated by Gov. Jared Polis for federal Opportunity Zone 2.0 designation. A census tract is a geographic area the U.S. Census Bureau uses to measure demographic data, including population and income. These tracts are among Colorado’s 91 nominations submitted to the U.S. Department of the Treasury for the program’s next phase.
Located adjacent to the RTD A-Line commuter rail stations, both Peña Station Next and 40th & Airport are planned as transit-oriented development (TOD) districts that will support new jobs, business growth, hospitality, and commercial development around DEN.
“Opportunity Zone designation would provide an additional tool to attract private capital, accelerate infrastructure investment, and help transform these station-area districts into vibrant employment, commercial, hospitality, and mixed-use destinations,” said senior vice president of DEN Real Estate Development Ken Cope.
Opportunity Zones use federal capital gains tax incentives to encourage long-term private investment in designated communities. Investors may defer taxes on eligible gains and pay no taxes on appreciation if they hold the investment for at least 10 years. Colorado’s first Opportunity Zone program generated more than $3.2 billion in investment statewide, and the State estimates Opportunity Zone 2.0 could attract more than $4 billion in new capital.
The announcement comes as DEN continues to advance development of its commercial districts and currently seeks qualified development partners through its Infrastructure Financing and Master Developer RFQ, which is open through October 30, 2026. The selected partner(s) will help evaluate, finance, and deliver critical infrastructure needed to unlock future development opportunities across airport-owned land.
The 40th & Airport Development District will also serve as the subject site for the Commercial Real Estate Development Association (CREDA) Colorado 2027 Rocky Mountain Real Estate Challenge, bringing leading university real estate programs, students, industry professionals, and development experts together to explore innovative development concepts for the transit-oriented district.
If approved by the U.S. Treasury, the Opportunity Zone 2.0 designations are expected to become effective on January 1, 2027.
For questions regarding Opportunity Zone 2.0 or real estate development opportunities at DEN, please contact the DEN Real Estate Division at DENRealEstate@flydenver.com.
