Globeville Site Selected for 2019 Rocky Mountain Real Estate Challenge
DENVER— Land Title Guarantee Company and NAIOP Colorado have selected the 40.5 acre Denver Shops site, located at 5151 Bannock Street in Denver, as its prime subject for the 17th Annual Rocky Mountain Real Estate Challenge to be held on May 2, 2019.
‘The Challenge” is the premier real estate competition that pairs graduate-level students from the University of Colorado and the University of Denver and industry leaders in the Colorado real estate community to reinvent an existing commercial real estate site. As major employers identify large cities for their future campuses, they look to innovative urban centers for ideas that can transform the places we live, work and play into high functioning ecosystems and engaging experiences. The Denver Shops seeks to be that model.
Located in the Globeville neighborhood within the City and County of Denver, this forty-plus acre site at The Denver Shops is an ideal project focus for these real estate graduate students. Formerly known as the Colorado Trade Center, the property was acquired by project sponsor Conscience Bay Company (CBC) in 2015.
CBC has restored the original name, The Denver Shops, to honor the unique history of the site. In 1922 the Chicago, Burlington and Quincy railroad opened the Locomotive Shops and for decades the site was referred to as The Denver Shops throughout the community.
“Governor Hickenlooper, Mayor Hancock and our newly elected Governor-elect Polis all emphasize thoughtful planning and investment for our city. Considering its phenomenal location with highway access to both I-25 and I-70, this project will be at the top of the priority list for the state and city offices of economic development and for transportation and affordable housing champions,” said Eli Feldman, president of CBC. “We all witnessed the successful, planning and transformative investments in Coors Field and Union Station over the past years. The Denver Shops site presents an opportunity of similar scale and potential.” Feldman added.
In January 2019, student teams will begin a four-month period of working with industry professionals and CBC to analyze every aspect of the site. The student teams are tasked with presenting a feasible, integrated development plan that promotes the best and most sustainable use of the 40.51-acre site, while addressing the many challenges associated with commercial real estate development. The student teams compete against one another for scholarships and the NAIOP Cup, which is awarded to the winning school each year.
‘The Challenge’ culminates with the largest real estate event in Colorado on May 2, 2019, where student finalists present their recommendations to CBC and an audience of more than 750 real estate professionals. Tickets for the event at the Hyatt Regency Denver Convention Center will go on sale in early February via NAIOP.
“We are thrilled to have a motivated project sponsor and a stellar location for the Challenge. As Denver grows at unprecedented rates, available sites such as this are becoming scarce,” said Stacy Stout, chairman of the NAIOP organizing committee. “To be successful in this year’s competition, students will need to pay attention to the detail and really think big about what possibilities are available for this unique location.”
Site map courtesy of NAIOP