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Forest City Enterprises Shelling Out $123.5 Mil for Stapleton Development Rights

DENVER-Forest City Enterprises redevelopment of the former Stapleton International Airport is anything but a cheap undertaking. A review of the SEC filing shows the developer is paying $123.4 million for acquisition rights to 3,000 acres.

By John Rebchook | Updated on December 04, 2000

DENVER-Forest City Enterprises will pay $123.4 million, including fees, for 15 years for the right to develop the former Stapleton International Airport, GlobeSt.com has learned in a review of the Cleveland-based REIT’s SEC filing.

The executed agreement with the non-profit Stapleton Development Corp. gives Forest City the right to purchase 3,000 developable acres at Stapleton. The company calls it an “ambitious development plan.” That may be an understatement, as company officials and others call it the largest urban infill development ongoing in the country.

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