Denver Broncos Officially Buy Burnham Yard Site

The Denver Broncos are poised to take ownership of their future stadium site at a discount.

The National Football League team is moving to buy Burnham Yard, a once-active rail yard in Lincoln Park, for $45.8 million, Denverite reported, citing an agreement approved by state officials last week. The state of Colorado, which currently owns the 58-acre site, would sell the land at a loss after acquiring it in 2021 for $50 million.

Burnham Yard’s latest $45.8 million price tag covers the acquisition loan the state took out to complete the purchase. That debt is slated to come due this May. The Broncos are expected to sign off on the deal in the coming weeks, according to a state spokesperson.

Once the Broncos take ownership of the property, the decommissioned rail yard will undergo tens of millions of dollars in public spending to prepare the area for development into a sports and entertainment hub, according to Denverite. The state spent $19.4 million to remove nearby freight tracks to improve accessibility to the yard.

The City of Denver is also planning to revitalize the site in preparation for construction, designating $140 million to improve and rearrange two road viaducts in the area. That endeavor was approved by voters as part of a bond package as the city said the work was needed with or without the Broncos’ forthcoming stadium project.

The Broncos’ initial plans for the area show a 150-acre development between Sixth and 13th Avenues. Their new stadium would rise on the rail yard site, and the surrounding area would consist of a dense mixed-use development. The team plans to obtain construction permits as soon as January with the hope of playing in the stadium in the 2031 season, according to Denverite.

Entities tied to the Broncos have been purchasing parcels surrounding Burnham Yard over the past year in preparation for the new stadium. By the middle of last year, the organization had reportedly spent $153 million for more than a dozen lots surrounding the train yard.

— Chris Malone Méndez