As you may have heard, the City of Denver is preparing to purchase 155 acres of land known as the Park Hill Golf Club for $20.5 million dollars. In a deal that is large and fairly complicated, multiple stipulations will need to be met for the project to be finalized.
Here are some cliff notes on the proposal for the City of Denver to purchase Park Hill Golf Club:
- The land Park Hill Golf Course has been owned by a nonprofit Trust since 1899. The trust’s board has approved the proposed purchase by the City, which would take place at the end of 2018 should the golf course not renew their lease. Due to lack of profitability, it is unlikely the golf course will renew their lease for the land.
- The land is currently zoned as open space. This would require the City to hold community meetings to determine the final use of the land. Per zoning laws, the City would need to create a master plan for the parcel before any rezoning or development could occur.
- Roughly 20-25 acres would be engineered by the City for storm water retention.
- The golf course operator Arcis has right of first refusal as stipulated by their lease agreement.
- The deal also needs to go before probate court.
- The $20.5 million deal also will also need to go before Denver City Council for final approval. The proposal will go before the council at a committee meeting in October 3rd.
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