DPS sells $6.2M lot to land board

The DPS parking lot on Grant St. Photo by Burl Rolett.

The DPS parking lot on Grant St. Photo by Burl Rolett.

A big chunk of developable land in Cap Hill traded between government agencies last month.

The Colorado State Land Board, which manages 3 million acres of land to generate revenue for public education and other state institutions, bought a 1.16-acre parking lot at 9th Avenue and Grant Street from Denver Public Schools for $6.2 million.

It’ll stay a surface lot for the foreseeable future, but spokeswoman Melissa Yoder said the Land Board liked the land in part for its development potential.

“We see the property as a great long-term investment,” she said. “It’s a good infill parcel and it brings an immediate, near-term revenue stream with the parking.”

The site runs north from the corner of 9th and Grant directly across from a vacant, Denver Public Schools-owned office building. Yoder said the Land Board came across the deal while it was working on a separate transaction for a DPS school site.

The Colorado State Land Board reported revenue of $125 million in the 2012-2013 fiscal year, according to the annual report.

 

 

The DPS parking lot on Grant St. Photo by Burl Rolett.

You must be a member to access BusinessDen's exclusive reporting.

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING AARON@BUSINESSDEN.COM.

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.




Return to Homepage

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments