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Financing Paves Way for 210-Acre Gold Mine Transformation

COLORADO SPRINGS-A Denver-based company is investing $19 million to clean a polluted site here. The redevelopment will draw on the influences of New Urbanism, and Gold Hill Mesa Partners' planned mixed-use project will include a total of 877 residential units.

By John Rebchook | Updated on April 13, 2006

(To read more on the debt and equity markets, click here.)

COLORADO SPRINGS-Executives from locally based Brownfields Capital on Wednesday said they plan to use a “patented financing solution” to remediate and redevelop Gold Hill Mesa, a 210-acre former gold mine in Colorado Springs that has been closed for the past 57 years. It will be redeveloped into a mixed-use development.

The land is the former site of the Golden Cycle Mill, a gold and silver mill that began operations in 1906. It closed in 1949, leaving behind a mesa comprised of 14 million tons of soil infused with gold tailings. Throughout the past three decades, attempts to reprocess the tailings or redevelop the site have failed.

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