Donald Trump grabbed the early headlines, but his company is just one of 11 local and national development teams vying to redevelop Denver’s historic Union Station.
Most of the bidders include big-name local developers partnering with national players. For example, Cleveland-based Forest City Enterprises, Dallas-based Trammell Crow Co. and Walnut, Calif.-based J.F. Shea Co. Inc. each have subsidiaries that are bidding.
If it’s selected for the $800 million redevelopment, New York-based Trump International Hotel & Residences also is likely to partner with a local group.
“The Trump organization recognizes the talent here,” said Odell Barry, who has been working for the last few months with the Trump group.
The news that Trump is throwing his hat in the ring came as a surprise to many interested in the project.
“Land prices go up when Trump makes an announcement, so it was pretty close to the vest,” said Barry, an ex- Denver Broncos player who has been in the real-estate business for 30 years.
Trump’s attraction to Denver, Barry said, is largely a result of FasTracks, the Regional Transportation District’s $4.7 billion plan to build at least six new rail lines – and extensions for two other lines – over 12 years.
The Union Station project, among the most significant attempted in Denver, will serve as a gateway to downtown and link the Lower Downtown and Central Platte neighborhoods.
IN THE RUNNING:
A look at all the teams.
Alexander Co.
The city invited Madison, Wis.-developer Alexander Co. to submit a bid. Among the company’s previous projects are the $18.7 million redevelopment of Central Station in Memphis and the $7.4 million master development of a contaminated 13-acre site in downtown Madison.
While both projects are smaller than the Union Station project, they demonstrate Alexander Co.’s expertise in master-planning and dealing with environmental issues, said Jonathan Beck, the company’s development project manager.
Completed in 1999 in conjunction with the Memphis Area Transit Authority, the Central Station development includes 63 apartments, 12,000 square feet of commercial space and 23,000 square feet for MATA, Amtrak and the Memphis Police Department.
The Madison project involved extensive environmental cleanup and development of commercial, retail and housing components in new and historic buildings.
Cherokee Investment Partners
Cherokee is working with Dakota Ridge Development LLC and New Boston Real Estate Inc. Cherokee, based in Raleigh, N.C., specializes in redeveloping brownfields, or real estate that is complicated by real or perceived environmental problems. Ferd Belz heads the company’s Denver office, which is handling the redevelopment of a portion of the former Gates Rubber property at Broadway and Interstate 25. Belz also heads Dakota Ridge.
Jerry Rappaport Jr., who heads Massachusetts-based New Boston Real Estate, has a background in redeveloping train stations, including Hartford (N.J.) Union Station.
Continuum/East West
Well-known Denver developers Continuum Partners and East West Partners have teamed up with Boston-based DMJM Harris, which has worked on transit projects from New York to Seattle.
The team is thought to be a strong contender based on previous projects, as well as based on its other real-estate holdings in the area. East West controls much of the land between Union Station and the Central Platte Valley.
Corporex Colorado LLC
Corporex is partnering with Atlanta-based Trammell Crow Residential, which is working on several transit-oriented developments in the metro area.
“They bring a housing focus we don’t have,” said Steve Moyski, president and chief operating officer of Corporex Colorado. Corporex is developing the Museum Residences, a condominium complex across from the Denver Art Museum’s $90.5 million addition.
Both companies also have deep pockets. Corporex has a $1 billion asset base, while Trammell Crow Residential has a $3 billion asset base.
Denver Crossroads Developers LLC
Denver Crossroads consists of Phelps Development, a subsidiary of Greeley- based Hensel Phelps Construction; Mosher Sullivan of Denver; and Federal Development of Washington, D.C.
Hensel Phelps has been involved with about $4.5 billion in transportation projects and $1 billion in historic preservation projects, said Tom Wierdsma, director of development for Phelps.
Mosher Sullivan’s projects include the Wellington E. Webb Municipal Building, the Denver Civic Center Cultural Parking Garage and the Colorado Center Retail and Entertainment Complex.
Forest City Development
Perhaps best known in Denver for its redevelopment of the former Stapleton International Airport, Forest City has done a number of projects on top of New York City subway stations, said John Lehigh, chief operating officer for the Cleveland-based company’s Denver office.
“Most of our projects are done in difficult urban situations,” Lehigh said. The harder the project, the more it appeals to our appetite.”
Mile High Development
The Mile High team includes LNR Property Corp., a real-estate investment and management company that spun off from homebuilding giant Lennar in 1997; CH2MHill, an engineering and construction operations firm with 2004 revenue of $3.1 billion; and America First, with which it partnered on a building at the Fitzsimons medical campus.
Shea Properties
Walnut, Calif.-based Shea opened its Denver office in 1997. The privately held company integrates commercial and residential development, master-planning, land development, multifamily development, commercial leasing and property management. Its Colorado projects include Wildcat Shopping Center, a 115,000-square-foot retail project in Highlands Ranch; and Shea Center, a 494,074-square-foot office building in Highlands Ranch. The company also has built more than 3,000 apartment units and has 1,400 under construction.
Timothy O’Brien LLC
This company is a real-estate investment trust recently formed by Timothy O’Brien. O’Brien’s background is in architecture, but he declined to name the firm that employs him.
Trump International Hotel & Residences
Trump’s team includes New York-based hotel and resort developer Bayrock Group LLC and Barry Group Investments, formed by former Denver Bronco Odell Barry, who has been active in real estate for 30 years. Lawyer Dawn Bookhardt of the Denver law firm Bookhardt & O’Toole submitted the qualifications package on behalf of Trump’s team.
William Jackson Ewing Inc.
This Baltimore-based company developed the master plan for the Grand Central Terminal in New York City. The 170,000-square-foot project includes 119 stores and restaurants and is a crown jewel in midtown Manhattan. The development team received the Preservation Honor Award from the National Trust for Historic Preservation and the Presidential Design Award.
