If you’ve driven from DIA to downtown Denver on I-70 recently, you’ve probably noticed some of the bridges and roads are in need of a little TLC. Honestly, they’ve deserved some attention for sometime now, especially the 53-year-old viaduct between Brighton and Colorado Boulevards.

What is Denver planning on doing about it? You may have heard about the Central 70 Project. Finally, we have a solution. According to Central 70’s website, “The Central 70 project proposes to reconstruct a 10-mile stretch of I-70 East, add one new Express Lane in each direction, remove the aging 50-year old viaduct, lower the interstate between Brighton and Colorado boulevards, and place a four-acre cover over a portion of the lowered interstate.”

While the project has been discussed for 14 years, it was officially approved and announced on January 19th 2017. Why is this project important? The neighborhoods to the North of I-70 are cutoff from the rest of Denver with lack of easy access to Downtown and have not seen the economic growth the remainder of Denver has benefited from. The Central 70 project will essentially alleviate many of these concerns, as well as highlight the growth of the 1,200 businesses along the corridor and bring job opportunities to many Coloradans.

Once completed, “this space will feature a small amphitheater, a splash park, a sports field, play areas, and room for farmers markets and community events. The park must be built as part of the project and must include these elements.”

Neighborhoods like Globeville and Elyria Swansea are already seeing the impact of the project. Investors and home buyers are recognizing the opportunity to sweep up real estate for a reasonable price, knowing with the growing population in Denver and the Central 70 project, home values and land values are going to increase.

According to Realtor.com, in November of 2013 median home prices in Elyria Swansea were at $134,000. As of December 2016, the median home price was $232,000, over 70% increase in value in three years. Similarly, Globeville saw an increase from $134,000 to $238,000 in the same time period.

I’m sure you’re starting to wonder how much it’s going to cost? The Project is estimated to cost $1.17 billion. The primary funding sources include:

Colorado Bridge Enterprise: $850M
SB 09-228 Funds: $180M 
Denver Regional Council of Governments (DRCOG): $50M
City of Denver: $37M

In the long run this will be the State’s largest transportation project, with an estimated start date sometime in 2018. According to the Central 70 Project Snapshot,When completed, the Central 70 Project will reduce congestion, improve safety and better accommodate future growth along this vital transportation corridor.”

Have questions about the project, want to attend a meeting or want to receive project updates? Visit the Hot Topics page of the Central 70 website.

If you are interested in investing in one of these two neighborhoods, check out current for sale listings below. As always, you can contact me and I’ll be happy to talk with you about the financial opportunities of investing.

For Sale in Elyria Swansea

For Sale in Globeville