The winner of a $126 million infrastructure construction contract for the redevelopment of the former Gates Rubber plant will be announced today.
Developer Cherokee Denver LLC will hold a news conference at the site.
The Gates redevelopment – Denver’s largest since Stapleton – is expected to cost $1 billion and take 10 to 15 years to complete. The city has pledged $85 million in public financing to help fund the cleanup at the former rubber-factory site and rebuild it into a transit-oriented residential and retail hub.
The project encompasses 50 acres at Interstate 25 and South Broadway and seeks to transform the abandoned plant into at least 1,500 for-sale residential units, 1,000 rental units and 6 million square feet of retail space.
The Denver City Council, which must approve the financing by a majority vote, will hear the project on first reading at a meeting tonight. A public hearing is scheduled for Feb. 6. The $126 million deal is contingent on the council’s approval.
The company that wins the contract will be responsible for everything from cleaning up the contaminated site to building underground utilities, sidewalks and transit infrastructure and a list of six signature projects.
Staff writer George Merritt can be reached at 303-820-1657 or gmerritt@denverpost.com.
