Despite public claims they’re exploring multiple locations for a new stadium, the Denver Broncos have been in regular talks with Denver Water about land near Burnham Yard since early 2024, 9News reports.
The discussions involve top Broncos executives and city officials, including Mayor Mike Johnston’s chief of staff, and coincide with land acquisitions around the site.
Burnham Yard, between 6th and 13th avenues in the La Alma Lincoln Park neighborhood, sits next to Denver Water’s campus.
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Denver Water, which has been in talks with the Broncos, has its headquarters near Burnham Yard.
The NFL team has reportedly used LLCs to mask nearby property purchases.
While the Broncos maintain that no decisions have been made, experts interviewed by 9News suggest the concentrated land buys point to a more focused plan than the team has publicly admitted.
"Usually, you know where you want to build, and it's come hell or high water, I'm gonna build there," Geoffrey Propheter, an associate professor at the University of Colorado Denver who studies the sports economy, told 9News.
The Broncos’ lease at Empower Field runs through 2031. City officials say they remain in talks to keep the team in Denver.
CONSTRUCTION AND DEVELOPMENT
Mortenson and Saunders Construction have been selected to lead the 13-acre Cherry Creek West redevelopment as joint general contractors. The project, led by East West Partners, will transform parking lots near First Avenue and University Boulevard into a mixed-use district featuring office, residential, retail, dining and open space. Phase 1 begins with demolition in early 2026, with initial buildings and creekside improvements expected through 2029.
LEASES
Denver Milk Market at Dairy Block has added three new tenants: YumCha Noodles & Dumplings, Konjo Ethiopian Food and Lucky Bird Fried Chicken. YumCha, part of Cholon Restaurant Concepts, joins the 15K SF food hall this summer, while Konjo and Lucky Bird opened this week. The additions bring the total number of restaurants in the Sage Hospitality-managed space to 11.
SALES
A 1.1-acre site ground-leased to King Soopers at 6482 S. Parker Road in Aurora has sold for $3.6M. The 1K SF fuel center, built in 2024, has a 20-year lease backed by The Kroger Co. SRS Real Estate Partners represented the seller, a national REIT. A Denver-based private investor was the buyer. The property is an outparcel to the 528K SF Arapahoe Crossings power center.
FINANCING
Newmark secured a $63M construction loan from Builders Capital for Roan Steamboat Springs, a 78-unit luxury townhome development in the Wildhorse Meadows area. The project is led by Steamboat Meadows LLC, a partnership of RAL Development Services, KZ Capital and Latitude Investment Partners. Prices start at $3.6M, with delivery of the first phase expected on elevated parcels near the Wildhorse Gondola.
PEOPLE
Newmark hired Mark Lodmill as executive vice president for its valuation and advisory practice. Based in Denver, Lodmill will focus on multifamily assets, including student housing, across the Rocky Mountain region and Seattle. He has a 28-year track record working in valuations, litigation support and feasibility studies.
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NewMark Merrill Cos. hired Paul Sheppard as vice president of acquisitions and development for its Mountain States Division. Based in Westminster, Sheppard will lead acquisitions and oversee new development across the region. He brings 24 years of experience, including senior roles at ShopCore Properties, Regency Centers, DDR Corp. and Brixmor Property Group. NewMark Merrill owns 1.7M SF of retail space across 13 Colorado centers.
THIS AND THAT
A new CBRE report shows office demolitions and conversions will outpace new office construction nationwide in 2025 for the first time in years. In Denver, CBRE notes that most past conversions have targeted life sciences, but recent activity has shifted toward income-restricted multifamily housing. Two such projects were announced this year: 4340 S. Monaco St. with 143 units and 800-808 Grant St. with 76 units. Nationally, 76% of office conversions in the pipeline are for multifamily use.