Midtown at Clear Creek is a 180-acre parcel of land located just north of Denver, Colorado. The site was formerly the location of a 400,000 SF aerospace manufacturing facility operated by Hamilton Sundstrand, a Division of United Technologies Corporation (UTC). Prior to the sale of the property, UTC engaged a third party environmental engineering firm to complete the remediation.
As part of the disposition of the property, Brownfield Partners (BP) was approached to partner with the future land developer, Carma Colorado, Inc. (now Brookfield Residential Properties). A BP-affiliated entity, Brownfield Property Investors, assumed title to the 43-acre Facility Parcel, which was the source of contamination. As property owner, BPI managed the abatement and demolition of the manufacturing facilities, including regulatory closure, and oversaw restoration of the Facility Parcel, which will become a park and open space for the existing and newly developed neighborhoods.
Additionally, in a continuing role as partner with Brookfield, RE | Solutions (RES) serves as owner’s representative, providing oversight and management of the environmental engineering firm that is completing the cleanup. RES serves as a liaison to local and state regulatory agencies and the municipal planning department on issues relating to environmental conditions and cleanup progress. As owner’s representative, RES is also responsible for coordinating Brookfield’s development with the on-going remediation, in part to ensure that site development work is performed in compliance with the terms of a high-limit environmental insurance policy that was placed to further secure the environmental risks at the site.
When complete, Midtown at Clear Creek will have approximately 1,200 residential units, including single family, town homes, and multi-family units, along with mixed use commercial space bordered by future light rail on the southern boundary and bus rapid transit directly to the north.
November 20, 2014