DENVER – The University of Colorado Board of Regents has approved the sale of the University of Colorado Denver’s Ninth Avenue Campus, formerly known as the health sciences campus.
Sembler Atlanta, Inc. has agreed to purchase the property for $34.8 million and will redevelop approximately 28 acres. The new design plan calls for a mixed used development including retail and residential space. Tough economic conditions forced Shea to withdraw from the project.
“This is a great opportunity for the neighbors in the 9th and Colorado community and for the University,” said Lilly Marks, University of Colorado Vice President for Health Affairs and Executive Vice Chancellor of the University of Colorado Anschutz Medical Campus. “We expect the process to move forward quickly.”
The board approved the sale at their meeting last Thursday.
In difficult economic times and with a complicated real estate project, the ability to find a new buyer could not have been possible without support and guidance from development consultants Tim Romani and Ray Baker.
The health sciences campus completed its move to the University of Colorado Anschutz Medical Campus in Aurora, Colo., in January 2008. The Anschutz Medical Campus is one of two campuses of the University of Colorado Denver; its other campus is in downtown Denver. The university serves more than 28,000 students in 13 schools and colleges and offers 128 degree programs. Visit us online at www.ucdenver.edu