Jefferson Park Density To Increase Nearly 20%
With more than 1,300 residential and hospitality units either recently completed, proposed or underway, Denver's Jefferson Park is going to look a lot different soon.
Joe Swensson, senior manager of real estate development at Opus Development Co., said part of the allure of the area is the intersection of the neighborhood, the commerce in downtown Denver, and the recreation and entertainment at Broncos Stadium.
“In five to 10 years, Jefferson Park will look meaningfully different,” he said. “Growth in the area has already begun and we will see that expansion moving south past the stadium district.”
Data from the city's Community Planning and Development department shows that 367 residential units are planned for the area, while 745 are already underway. At 2601 North Alcott St., a mixed-use residential and hotel project has 623 units underway.
At 2290 West 29th Ave., 122 units are underway; 2711 West 25th Ave. has 33 units planned; 57 units are planned for 2729 West 28th Ave.; and 248 units were recently completed at 2424 North Alcott St.
There are also plans for 19th and Clay, where The Opus Group will construct a 12-story, 277-unit multifamily development. Newmark Knight Frank research found that the population within one mile of that future development is expected to increase by 19% over the next four years.
Swensson said that The River Mile project, which will also add a lot of density nearby, was another benefit, and would help connectivity from Jefferson Park to downtown Denver.
Broncos Stadium, right next to the neighborhood, will see a redevelopment of its parking lots into an entirely new Denver neighborhood, bringing density with it. Last year, the Stadium District Master Plan was adopted by the city council.
The Denver Business Journal reported on its most recent plans. The plans outline six phases of development, which include residential, office, hospitality and other commercial development as well as open space.
The development will be guided by community input, according to Denver's planning department, and local stakeholders are also on the project's advisory committee. Land within the project will be leased to different developers.
Nearby residents in neighborhoods including Jefferson Park voiced their concerns about the project at an event in November 2019. Many said they want a grocery store as part of the development, as well as pedestrian paths, bike lanes and more green space.
Senior Development Project Administrator Leah Dawson said that the city started to see an increase in development in Jefferson Park in 2013, a streak that so far has continued. She attributes that to strong population and job growth, not necessarily the big plans right next door.
“To date, the growth seems to reflect the strong economy in Denver, and not due to the announcement of the Stadium District redevelopment,” she said.
In 2018, Bisnow reported on partnerships between Denver Community and Planning Development, the Denver Housing Authority, the Denver Broncos and the Metropolitan Football Stadium District to create the Stadium District Master Plan.