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City and County of Denver and Adams County Approve Final Plans For Remediation and Redevelopment of Former ASARCO Site

Denver City Council and the Adams County Board of Commissioners have approved the creation of the first-ever, multi-county urban renewal area in Colorado for the former ASARCO Globe Plant smelter site. The counties also entered into a Cooperation Agreement confirming collaboration by both parties and the Denver Urban Renewal Authority (DURA) to faciliate remediation and eventual redevelopment of the property.

The now vacant plant sits on 77 acres at the northwest corner of 51st and Washington Streets. Roughly 80 percent of the property is within Adams County and 20 percent is in the City and County of Denver.

Passage of the initiatives creates the Globeville Commercial Redevelopment Area and allows for the use of tax increment financing (TIF) as part of a plan to remediate the site and prepare it for redevelopment.

“Today’s announcement is the result of years of collaboration and steadfast vision among the multiple entities involved,” said Tracy Huggins, executive director for DURA. “This project, while challenging due to economic and environmental factors, ultimately will bring additional jobs and tax revenue to both the City and County of Denver and Adams County.”

The public-private partnership spearheading this project includes Adams County; the City and County of Denver; DURA; the State of Colorado; and EFG-Brownfield Partners, a Denver-based urban infill developer contracted to manage the environmental remediation through its subsidiary, Globeville I, LLC. EFG-Brownfield Partners can now move forward with clean-up efforts.

“We have been working on redeveloping this property for seven years,”  said W.R. ‘Skip’ Fischer, chair of the Adams County Board of Commissioners.  “It was plagued with environmental and financial challenges, but thanks to the collaborative efforts of Adams County, Denver, DURA and EFG-Brownfield Partners, we have overcome these obstacles.” 

“This is the type of project that creates a stronger economy,” said Denver Mayor Guillermo (Bill) V. Vidal. “By revitalizing the site and creating an opportunity for redevelopment, we are making way for new growth. I am really excited about what the future holds for the Globeville neighborhood and the surrounding community.”

“This renaissance project is important to my neighbors, and to me personally because I’ve lived here all my life,” said Adams County Commissioner Alice Nichol.  “By working together, we’ve been able to leverage the resources that will transform a blighted area into a renewed hub of economic activity and vitality.”

“Transforming this property is in the best interest of our residents,” said Adams County Commissioner Erik Hansen.  “It will provide substantial employment opportunities and greatly enhance a gateway area into Adams County.” 

Remediation of the site is expected to take nearly three years and cost approximately $22 million. In addition to the TIF, the cost is funded by proceeds made available to the State of Colorado from the ASARCO bankruptcy, a HUD Section 108 loan from Adams County, and a HUD grant from the Denver Office of Economic Development. 

“Creating the opportunity for economic revitalization through Brownfield redevelopment is a primary goal of ours,” said Doug Elenowitz, a partner with EFG Brownfield Partners. “We look forward to working closely with our partners and the local community on this important project to prepare the site for future use.”

When the remediation process is complete and the site is again safe for development, the property will be sold for redevelopment and proceeds from the sale will be used to repay the HUD Section 108 loan. While specific redevelopment plans have yet to be developed, it is expected that the site will be a mix of commercial uses that could total as much as one million square feet of new development and create hundreds of new jobs.

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