Former Oil and Gas Land – Broomfield, Colorado

Repositioning Case Study

History

Approximately 3,000 acres of homesteaded ranch land and natural gas production fields located at the northern intersection of Interstate Highway 25 and Denver’s then proposed extension of the 470 beltway system, the Northwest Parkway, were assembled from ten separate ownerships to create a single development partnership. Entitlements included a Planned Urban Development and Service Plan; a Master Development Agreement and Vested Property Rights Agreement approved by the city; a Master Owner’s Association with Bylaws and CC&R’s created to maintain high quality construction and maintenance; a Metro District formed to fund and maintain street and utility infrastructure; and an access agreement established with the Northwest Parkway Authority. The design provided for two town centers, one anchoring the residential development toward the mountains and one anchoring the commercial development nearest the highway arterial access points, and allowed for 3900 units of single family housing, 1790 units of multi-family housing, 785,000 square feet of retail, 11,200,000 square feet of office, and 2000 units of hospitality units.

Development

  • Outcome: 3,000 acre master Planned Residential and Commercial Community
  • Location: Broomfield, Colorado

Remedial Solution

A plan for the remediation of hydrocarbon contamination from years of oil and condensate production and for the redeployment of ongoing oil, condensate and gas production was approved by the State of Colorado Oil and Gas Conservation Commission. Remediation activities were implemented as part of the infrastructure construction.

The assemblage and all approved entitlements, permits, districts and documentation were sold to Pulte Homes.