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RTD Buying Union Station for $49 Mil

DENVER-The Regional Transportation District was willing to pay up to $60 million. The city of Denver is kicking in up to $10 million while the partnership is getting another $20 million from the Denver Regional Council of Governments.

By John Rebchook | Updated on July 30, 2001

DENVER-The Regional Transportation District and partners agreed to pay $49.6 million for the historic Union Station in Lower Downtown, which it plans to convert into an intermodal-transit hub. The sellers are a partnership of the Union Pacific Railroad, Trillium Corp. of Bellingham, WA, and Denver real estate and railroad investor Pat Broe.

The price is about 17% less than the maximum of $60 million RTD was willing to pay. The price was reached from two independent appraisals. The city of Denver is kicking in as much as $10 million.

The purchase, which will include $20 million from the Denver Regional Council of Governments, includes the station, which was built in 1881 at Wynkoop and 17th streets. The building sits on an 18.5-acre site.

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