United Properties will Develop Aerospace and Clean Energy Facility on Loveland Site
- Jun 16, 2011
Making Denver real estate headlines this past week was the selection process for the redevelopment of a Loveland site slated for conversion to a high-tech manufacturing plant for NASA. The story was reported by both The Denver Post and The Denver Business Journal.
The difficult task of choosing the right company for the job fell to the Colorado Association for Manufacturing and Technology (CAMT) which eventually selected United Properties (UA). UA is a commercial property developer from Minneapolis that gained a stronger foot-hold in Denver with its purchase of local design company Ojala & Company back in 2008. UA will start its task by negotiating a purchase agreement along with CAMT for the City of Loveland’s 167-acre site.
The Aerospace and Clean Energy Manufacturing and Innovation Park will create upward of 7,000 jobs in clean energy and manufacturing of aerospace technologies. The property, which is the former home of Hewlett-Packard/Agilent Technologies is expected to house a number of specialized companies; 25 have actively expressed interest in locating at the new high-tech venue since the announcement was made.
Interest in acquiring jobs in the tech park is high. According to The Denver Post, 2,000 people have already inquired about jobs there. The benefits for the area are expected to be massive with a predicted economic output of approximately $7 billion/year. The goal of this venture is to compress the time frame these companies previously had to get their products to market—which had been five years—to 18 months.