Colorado has presented five developers and nonprofits with a Golden opportunity.
Shanahan Development, Brikwell, Rural Homes, Habitat for Humanity and Elevation Community Land Trust were selected by the state this week to build 210 for-sale homes and 168 rental units on 41 acres near Lookout Mountain in the Denver suburb.
“Itap a large, complex development – infill – one of the largest left in Golden,” said Tom Kurek, director of Colorado’s Public-Private Partnership Collaboration Unit, or P3 Unit.
“It really lays out a model on how private-public partnerships can help solve the housing crisis.”
The five firms are now negotiating with Colorado on the terms of the agreement. The U-shaped site, near the Fossil Trace Golf Club, is bounded on three sides by the course and to the north by a jail for juvenile offenders. The state owns the land.
“You’re looking at a team that isn’t just getting to know each other, we are a cohesive team, thoughtfully assembled to deliver a project of this scale and impact. … This development isn’t simply about adding units; itap about creating a scalable model for how the state can leverage public land,” the development partnership said in a statement to BusinessDen.
The proposal seeks to create a “complete neighborhood” in Golden, Kurek said. The plan includes a mix of single-family homes, duplexes, townhomes and apartments along with open space, walking paths and a community gathering area. Some of the housing will be income-restricted or priced for those making between 30% to 120% of the area median income, with specific units for seniors and families.
The project will be delivered in phases, beginning in 2028 and continuing through 2031, Kurek said.
The site was previously home to a course for cyclocross, a type of bicycle racing where racers make multiple laps on a closed circuit filled with obstacles and varied terrain. Developers will have to construct new roads and infrastructure.
The P3 unit, launched in 2022, aims to spur the development of underutilized public land. The office won’t provide construction financing but could assist with costs associated with design and permitting, Kurek said.
In the case of Golden, the state will lease the site to the firms for 99 years. The P3 Unit has a similar arrangement on a parking lot in Denver’s Cap Hill across from the Governor’s Mansion, where a local modular developer is planning to construct an apartment building. The office has yet to facilitate a development from start to finish, but is working through projects from Durango to Lakewood.
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