DENVER -- Plans to revitalize the Sun Valley neighborhood near Sports Authority Field at Mile High continue to move forward.
The $240 million project was announced in December. Months later, private groups already want in on the new development.
This project will provide a much-needed face-lift to the area just steps away from where the Broncos play their home games.
“It's concentrated poverty,” Denver Housing Authority real estate development director Ryan Tobin said.
The city's housing authority has specific plans all ready to go.
“New buildings, new streets, new parks, new amenities,” Tobin said.
The goal is to act as a catalyst. The idea is that if the city adds more housing and reconstructs the current units, others will follow suit.
That goal is now a reality. Before the city could break ground on its part of the project, private companies can see the area's potential.
"It's a unique spot on the river next to light rail. You've got the highway system," said Tim White, a construction partner at Steam on the Platte.
Steam on the Platte is a development separate from the housing authority's plans.
White and his team transformed a rundown industrial warehouse into retail and office space. The brick building is steps from the stadium and a light rail stop.
"We believe that this neighborhood is going to really blossom into quite frankly the next River North within the next five years," said Yosh Eisbart, CEO of NIMBL, Steam on the Platte's first tenant.
Eisbart and his consulting firm rented out parts of the warehouse.
"We as the anchor tenant here felt it was a wonderful opportunity to help support Steam on the Platte as well as help support Sun Valley," Eisbart said.
While there are a lot of plans to add, the project is also about rejuvenation. Organizers don't want to create a new neighborhood, just tweak the one that's already there.
"You feel like you're doing more with it than putting together bricks and mortar you're building communities and trying to incorporate some of the local history," White said.
The Denver Housing Authority plans to break ground on its part of the project next fall.AlertMe