Union Station’s Effect on Denver
Union Station, in downtown Denver, has been a beacon to the past for every Denverite. The building was constructed in 1881, serving as the city’s central hub to all other rail lines extending through Denver. The station was heavily populated before Amtrak was organized, where only one train was designated to go through the city. The California-Zephyr line did not have the same appeal as older rail lines in Colorado, and Union Station eventually fell into disrepair and became rundown. In 2009, an effort was made to revive the station’s use by integrating into Denver’s large scale public transportation overhaul. The project, codenamed FasTracks, aimed to extend rail line to the outreaches of Denver and her surrounding cities to make commuting more manageable. The project required a complete refurbishing of the Union Station building and accompanying amenities. After years of construction, the building was finally opened for service in May 2014. Buses that used to run through Market street station were rerouted through the new and improved Union Station in the city’s effort to make it the centralized hub for all public transportation in the city. But the new Union Station will do more than just allow for less expensive commuting to Denver from the peripheries, it will have a whole heap of economic benefits for the city in the future. Here’s a comprehensive list of how this investment will help the city of Denver’s commercial sector:
1- The location’s integration into every transportation network in the Denver area will mean it will be globally accessible. That is to say, that with the future connection the airport, people will be able to seamlessly go between downtown Denver and anywhere else in the world via the almost completed lightrail that will end at Union Station. Moreover, movement from Denver to the suburbs will also be improved because from Union Station people can get anywhere within the Denver metro area. More access across Denver means more business opportunities for people who are further out. Considering that the majority of Colorado’s population lies along the Front Range, this is more than ideal, especially considering the rising price of gas.
2- A part of town that was neglected and poorly developed has been significantly revamped to accommodate the city’s more modern infrastructure. While the new Union Station improves life in the city of Denver, it will also mean that the neighborhood surrounding Union Station will also be getting a huge boost in commercial success. Having such an integral transit center means that the real estate prices of the surrounding area will skyrocket, meaning development will be financed relatively quickly and spaces should go in the blink of an eye. A new sector of town provides more commercial opportunities for future businesses, which in turn draw more people to the city of Denver.
3- Public transportation should relieve Denver’s highways. Rush hour has been getting progressively worse across the Denver Metro Area, and having more efficient and widespread public transportation options should work to mitigate that dilemma. As more people take the trains and buses to work, there will be fewer cars on the road, and fewer cars on the road means that vehicular interstate and intercity commerce should improve drastically. Not to mention, it will also facilitate meetings across the Denver metro area, instead of typically using Denver as a middle ground because of the difficulty of driving across the city.
How To Use This Information
Ultimately, the new-and-improved Union Station and the complimentary light and heavy rail network being constructed through it will be a gargantuan boost for a city that could use it. Denver’s going to become one of the commercial real estate hot spots in the coming decade, and you won’t want to miss out on this opportunity to find your piece of the real estate pie. So don’t wait, call us at 303-573-0377, or visit our website to get a better idea of how our REAL-ized visions approach will help you find the best property for you.
How do you feel about the newly constructed Union Station?
Categorized in: Denver Real Estate News
This post was written by Capital Realty