Overview
Denver Union Station is a public-private development venture located on approximately 50 acres in lower downtown Denver. The project area includes the historic Denver Union Station building, rail lines, vacant parcels, street rights-of-way, and offsite trackage rights. The project redeveloped the rail station and site into a multimodal transportation hub connecting passenger rail, vehicle parking, commuter rail, light rail, bus rapid transit, regularly scheduled bus service, bicycle and pedestrian access, and other related transportation services. These transportation activities are surrounded by substantial transit-oriented development including a mix of residential, retail, and office space.
The sponsor, Denver Union Station Project Authority (DUSPA), is a nonprofit, public benefit corporation formed by the City of Denver in July 2008 to finance and implement the project. As project elements are completed, they are transferred to the Regional Transportation District (RTD), which will maintain these elements. RTD will provide for the operation and maintenance of the project as a complete transportation district.
Map showing project site, courtesy DUSPA.
Financial Information
Cost: $487.7 million
Funding Sources:
- TIFIA loan - $145.6 million (26 years, to be repaid by sales tax)
- RRIF loan - $155.0 million
- FHWA Grant - $45.3 million
- FTA Grant - $9.5 million
- ARRA Stimulus Grant - $28.4 million
- Homeland Security - $353 thousand
- RTD contribution - $65.1 million
- Other state and local funds - $19.9 million
- Land sales - $18.4 million