The city of Denver confirmed Tuesday that it’s considering buying the Colorado Department of Transportation’s current home in the Virginia Village neighborhood.
Denver didn’t say what it plans to do with the nearly 12-acre site or how much it’s budgeted for the property near South Colorado Boulevard and East Louisiana Avenue. CDOT is planning to move in early 2018 to the complex it’s building along Federal Boulevard.
“I can confirm that the city is in discussions, but I won’t be able to comment on any details because it is an ongoing negotiation and nothing has been finalized,” said Courtney Law, spokeswoman for Denver Department of Finance.
The property at 4380 E. Louisiana Ave. is valued at $12 million by the Denver Assessor’s Office. A CDOT memo from October says the state agency plans to sell the site for $21 million to help offset the cost of its new headquarters.
CDOT has said in the long run it will be more affordable to pay up to $48 million to develop its new complex at the northeast corner of Howard Place and Federal Boulevard than to stay and make improvements and repairs at its current site.
CDOT spokeswoman Amy Ford said the organization offers its current headquarters to government organizations first before listing it to other buyers.