Lowry
A 1,866-acre site bounded by Monaco Parkway, Alameda Avenue, Dayton Street and 11th Avenue
The Francis B. Lowry Airfield was first established in 1937 and it has been an integral part of Denver’s history ever since. An important part of American history too, the War Department tasked Lowry field with training more than 55,000 men annually for World War II combat. Following WWII, Lowry field became Lowry Air Force Base and continued to serve the Air Force through the 1990’s.
As part of a national downsizing of the US armed forces in the early 1990’s, the Lowry Air Force Base was closed in 1994. In order to insure that the almost 1,900-acre site would be efficiently and suitably re-incorporated into the surrounding community, the Denver and Aurora City Councils approved the Lowry Community Reuse Plan and the creation of the Lowry Redevelopment Authority (LRA) to acquire and redevelop the base. The Reuse Plan called for a mixed-use, master planed community consisting of tree-lined boulevards and quiet residential streets that would carefully integrate office and commercial space into Denver’s newest neighborhood, to be known simply as Lowry.
In order for Lowry to be developed as called for in the Reuse Plan, the LRA needed a variety of funding sources to build much needed urban infrastructure and open spaces. In addition to numerous federal grants and the revenues from land sales, the LRA issued $72.6 million in TIF bonds through an agreement with DURA. Bond proceeds are used to help finance building demolition, construction of roadways, parks, open space, schools, and other public improvements at Lowry.
It is expected that the project will be fully built out in 2009. When the $1.3 billion Lowry redevelopment is completed, the community will comprise over 4,500 new homes and apartments, 1.8 million square feet of office space employing more than 6,500 people, 130,000 square feet of retail, seven new independent schools, a Denver public elementary school, and more than 800 acres of parks and open space. Today more than 25,000 people live, work or go to school at Lowry.
One of the earliest and most successful base closure reuse efforts, Lowry has become a model for other cities facing similar challenges and has received numerous awards, including the 1999 Sustainable Community Award from the US Conference of Mayors and the Department of Housing and Urban Development’s Secretary’s Award for innovative collaboration and sustainable growth.
fact sheet
Project Description:
Redevelopment of the former Lowry Air Force Base into a mixed-use, master planned community with 4,500 homes, 1.8 million square feet of office space and 130,000 square feet of retail space, 7 independent schools, one DPS elementary school and 800 acres of parks and open space
Developer:
Lowry Redevelopment Authority
Total Project Cost:
$1.3 billion
DURA Participation:
TIF commitment for $72.6 million in bonds issued by LRA
Tax Increment Source:
Property Taxes
Term:
Repayment of bonds or December 1, 2020
Major Developments:
The Lowry neighborhood
location map
