(rshsdepot) Denver Officials Are Poised to Turn Train Station Into Transit Hub

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Denver Officials Are Poised to Turn Train Station Into Transit Hub

The Denver Post=20
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Apr. 14--The Regional Transportation District could pay up to $60 million to=
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acquire Denver's historic Union Station for a metro area transit hub.=20

With RTD as owner, Union Station would be the nexus of metro transit. Detail=
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of the complex transaction emerged Friday, and RTD directors are expected to=
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vote on the purchase proposal at their board meeting Tuesday night.=20
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The final acquisition price won't be decided until RTD and Union Station's=20
owners get appraisals on the value of the building and surrounding land. The=
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entire site consists of 18 acres. The station, parts of which date to 1881,=20
is owned by the Union Pacific Railroad, real estate and rail investor Pat=20
Broe, and Trillium Corp., a development company that has large holdings in=20
the Central Platte Valley.=20
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If the appraisals of RTD and Union Station's owners are within 15 percent of=
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each other, the parties will split the difference to establish the final=20
purchase price -- with $60 million as the cap, said Bob Briggs, an RTD=20
director.=20
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RTD General Manager Cal Marsella said the city of Denver has agreed to join=20
with RTD in acquiring the rail station. The Denver Regional Council of=20
Governments also may contribute to the purchase.=20
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Wayne Cauthen, chief of staff for Mayor Wellington Webb, said Denver will=20
contribute $10 million from surplus funds to buy the station.=20
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At its peak in the early 1900s, Union Station handled 80 trains a day, but=20
over the past 40 years the interstate highway system and air travel reduced=20
the demand for passenger rail service. Union Station now has only two=20
scheduled trains a day.=20
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Still, local officials say they see a bright future for the structure as a=20
hub where Amtrak, light rail, commuter rail, regional express buses and=20
intercity bus lines all merge.=20
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"We want to make sure they all connect to the central city," said Cauthen,=20
explaining Denver's investment in the project.=20
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RTD now is building its Central Platte Valley light-rail line, which will=20
link Union Station with the Auraria campus and the transit district's centra=
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and southwest rail corridors.=20
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The $46 million, 1.8-mile Platte Valley line will have stops at Pepsi=20
Center/Elitch Gardens and the new Denver Broncos stadium. It is scheduled to=
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open in a year.=20
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Purchase of Union Station by RTD and the city means there will not be=20
high-rise commercial development on the site, officials said.=20
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The station's current owners have rights to high-rise development, but=20
Cauthen said the city favors commercial development on the site with lower=20
building heights that fit better with the area.=20
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Briggs said if the two appraisals of Union Station are not within 15 percent=
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of each other, an independent third party will do yet another appraisal to=20
help determine the station's selling price.=20
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At a Friday conference sponsored by the Transit Alliance, which promotes the=
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expansion of passenger rail in the metro area, Salt Lake City Mayor Rocky=20
Anderson said Denver and surrounding communities would be wise to lock up=20
ownership of Union Station now for future transportation needs.=20
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Salt Lake City failed to acquire and preserve a similar downtown rail=20
facility and now, as the Utah Transit Authority plans to expand light rail=20
and build commuter rail in the area, "we have to start from scratch" to=20
create a central location downtown where the lines can converge, Anderson=20
said.=20
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"Do it for the future of this city," he advised local leaders.=20
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The UTA now has one 15-mile, north-south light-rail line running from=20
downtown Salt Lake City to Sandy, Utah. By the end of the year, the transit=20
authority expects to open a 2 1/2-mile east-west line from downtown to the=20
University of Utah, which will be a major activity center for the 2002 Winte=
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Olympics.=20

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