Revitalization of Former Mile High Greyhound Park on Track to Begin Q2 2019
COMMERCE CITY, CO— The former site of the Mile High Greyhound Park is set to become a vibrant, mixed-use area in the coming years, combining residential, retail/commercial, civic and educational spaces that will hopefully help revitalize Commerce City.
The urban renewal plan was recently approved by the planning commission, Commerce City Urban Renewal Authority (CCURA) board and city council in June 2018. (Read more about the approval of the plan here).
REGen, LLC is the master developer for the project and construction is expected to begin in the second quarter of 2019.
The site has been officially designated an urban renewal area, which allows tax increment financing (TIF) to be used as a funding source for the redevelopment of the 65-acre site. The plan is designed to help provide important services, attract private investment, utilize underdeveloped land and leverage public investment and funding options to provide necessary public infrastructure.
Once the facilities greyhound racing ended in 2008, visitors and activity in the historic heart of Commerce City slowed. As a result, the Commerce City Urban Renewal Authority purchased the property in August 2011, intent on redeveloping the site as an economic engine for a new generation. Demolition of existing structures was completed in 2013 to prepare the property for development.
The community-supported vision for the site is a diverse mixed-use development that at full build out could create 1,454 permanent employees, generating $65.4 million in income on an annual basis.
- Create a flexible, master framework plan
- Create a mixed-use and multi-use neighborhood
- Provide a variety of retail and commercial development options
- Create a community destination and sense of place
- Provide space for the Boys & Girls Club and other service organizations
- Hold a portion of the property for an institutional anchor while pursing development on the remainder of the property.
The CCURA has invested more than $6 million in the property to date, including the abatement and demolition of 157,947 square feet of structures. Located in a Colorado Enterprise Zone and Urban Renewal Area, with access to several interstates and highways, the 65-acre site is a blank canvas to turn the vision into a reality that benefits the city and region for years to come.