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The vision of creating an Aerotropolis district is one step closer now that a funding mechanism for the infrastructure improvements needed to make 21,000 acres of land south of Denver International Airport ready for development has been put in place.
The city of Aurora, the Adams County Board of Commissioners and the Aerotropolis Area Coordinating Metropolitan District have executed an intergovernmental agreement establishing the Aerotropolis Regional Transportation Authority, which will oversee the budget and phasing plans for infrastructure improvements to the Aerotropolis area.
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“By approving the RTA, Adams County is demonstrating that we are ready to take the next step in making the Aerotropolis vision more than just a dream,” Adams County Commissioner Chaz Tedesco said. “This agreement will provide the foundation for jobs, businesses and homes, as well as building reliable infrastructure for the future.”
With the implementation of the RTA, Aurora Highlands LLC can break ground on the construction and development of The Aurora Highlands, a 5,000-acre, mixed-use, master-planned community. The community will be an integral piece of the larger 21,000-acre Aerotropolis planned for south of DIA.
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The first phase of Aurora Highlands will be on 2,900 acres. When the entire 5,000 acres is built out, it will be home to more than 23,000 families, shops and restaurants, a variety of parks and recreational amenities, office space, commercial/industrial employment centers and medical campuses. Home prices will start in the $200Ks for attached product and range to more than $1M for single-family homes.
“The RTA will help both Aurora and Adams County safeguard access to more than 170,000 new jobs, create new communities to call home and continue to offer all of the amenities that make up the Colorado lifestyle we treasure,” Aurora Highlands LLC Developer Carlo Ferreira said. “The framework and strategic collaboration put forth by Aurora and Adams County underscores the importance of cohesive, comprehensive planning across such a vast area in order to support the interests of all affected parties.”
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As part of the development, Aurora Highlands LLC will undertake the regional transportation improvements and public infrastructure needs identified by the RTA, improving access across Aurora and adding additional connectivity from Interstate 70 to DIA. The transportation improvements will include new interchanges on E-480 and I-70, as well as the extension of several major north/south and east/west arteries through the development. The development and provision of utility services like water, electric, sewer and storm drains will be constructed alongside other visible projects, including public parks, recreation centers and cultural facilities.
“With the approval of the IGA, we took a giant step forward in creating a stronger future for the entire Aerotropolis region,” Aerotropolis Metro District President Matt Hopper said. “This agreement will enable us to create thousands of new jobs, attract countless new businesses and bring much-needed housing to the area.”
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