Lakewood Receives 59 Acres Worth 25 Million

Dated: October 27 2015

Views: 212

The city council is set to vote Monday evening on a negotiated exchange proposal that would give Lakewood 59 acres of land in exchange for construction services on the Federal Center campus, near Union Boulevard and West 6th Avenue.

The plot of land was appraised at $25 million. And that's how much the city of Lakewood would spend to work on the Federal Center campus per the deal.

Specifically, the city would build a new lab for the Food and Drug Administration and U.S. Geological Survey to replace the existing one. Once this is done, the city would own the land.

Funding for the project would come from refinancing a lease-purchase agreement, as well as Lakewood's existing savings account.

According to Lakewood Mayor Bob Murphy, once the city obtains the land, it will sell parcels to the private sector with the city council's guidance. The neighborhood authority, meanwhile, will determine what works best in specific areas.

The development will not be another Belmar, Murphy said.

Instead, the plan is to turn it into a mixed-use space with offices and residential areas, along with open spaces and plazas.

The public can weigh in on the proposal at 7 p.m. Monday before the city council makes a final decision.

"It's an opportunity for the city to shepherd over the longterm, a true neighborhood," Murphy said.


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Denver Colorado Real Estate Professional -Michael Steffen

Michael is a motivated realtor specializing with investors and new home buyers located in the following areas; DenverArvada,Aurora and surrounding areas. Michael Steffen uses advanced internet marketing to insure your property gets maximum exposure and holds a high value of ethics in his work to ensure the ideal scenario for everyone! For help with buying or selling a property call 303-981-2750!

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Generation Property Group

My name is Michael Ross Steffen. I’m an Exit Realty Cherry Creek Agent in the Denver metro area and Team Leader For Generation Property Group! We specialize in advanced Internet marketing, buying, s....

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