Denver Extends Agreement and Adds Parcels to Globeville Redevelopment Plan in District 9

• When: 2025/03/17
• Address: 4964 North Pearl Street, Denver, CO
• Address: 624 East 50th Street, Denver, CO
• City: Denver
• State: CO
• Category: City Properties
• Subcategory: Property Lease
• Asset Class: Land
• Property Type: Covered Land & Land Banking

On March 17, 2025, the Denver City Council approved a resolution amending a prior agreement with Globeville Redevelopment Partners, LLC by extending the contract term by six months and incorporating two additional city-acquired parcels located at 4964 North Pearl Street and 624 East 50th Street. The revised agreement, now running through June 30, 2025, maintains the City's intent to secure long-term redevelopment partnerships for the Globeville area. The included parcels were acquired by the City in 2024 to expand the scope of potential revitalization and development. The site control and option for ground lease at 4965 Washington Street is a critical step toward assembling land for strategic urban renewal. No changes were made to the contract amount, and the extension allows more time for planning, stakeholder engagement, and predevelopment alignment.

Why it Matters

This extension and parcel addition strengthen Denver’s capacity to pursue coordinated redevelopment in the historically underserved Globeville neighborhood. It aligns with broader equitable development goals and enhances opportunities for transformative reuse.

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