A few months after sending a “notice of intent to acquire” to 23 properties near its headquarters amid talks with the Denver Broncos, Denver Water has a tentative deal to buy one of the parcels.
The municipal utility’s board on Wednesday morning will consider whether to approve a purchase agreement for 1801 W. 13th Ave., a nearly half-acre lot with two small industrial buildings on it.
Denver Water intends to pay $2.04 million for the property, according to board documents.
The property is owned by 1801 West 13th LLC, which bought it for $1.1 million in 2015, records show. That entity is managed by Peter Jacobs and Mitchell Yellen, according to loan documents from 2021.
Jacobs is president of Taylor Fence Co., which has been using the property. Yellen owns Altitude Hospitality Group, which operates a number of Colorado Springs-area restaurants. Jacobs did not respond to requests for comment Tuesday.
Under the proposed deal, the seller of 1801 W. 13th would lease the property back from Denver Water through Dec. 30. The seller would also pay up to 2.5% of the purchase price to a CBRE broker representing Denver Water.
The property at 1801 W. 13th Ave. in Denver on Aug. 11, 2025. (Hayden Kim/BusinessDen)
The proposed purchase is on the consent agenda for Denver Water’s board meeting, meaning it may not be discussed and will likely be approved in a block vote alongside other items.
The same board voted in April and May to send the acquisition notices to owners of 1801 W. 13th Ave. and a host of other properties northwest of Denver Water’s 35-acre campus.
The move prompted confusion. Denver Water has said publicly it’s “just exploring some voluntary acquisitions,” but the notices it sent included state law outlining the eminent domain process.
The deal for 1801 W. 13th is the first that the organization’s board has been asked to approve since the notices were sent.
Asked about plans for the property, Denver Water spokesman Travis Thompson referred to a previous statement that said only that acquisitions would meet “future operation needs.”
BusinessDen reported in June that Denver Water had been talking to top executives with the Broncos for more than a year about its current 35-acre campus at 1600 W. 12th Ave.
Denver Water’s land is adjacent to Burnham Yard, a 58-acre former railyard owned by the state.
The Broncos appear to have zeroed in on the site for a new stadium and have already purchased some $150 million of private property around Burnham Yard. The team maintains it is considering multiple sites for a new stadium, as well as staying at Empower Field at Mile High.
Thompson, the spokesman, declined to provide an update on the status of talks with the Broncos, telling a reporter to ask the deal.
Denver Water’s interest in land northwest of its existing campus suggests the organization could shift operations there if it agrees to sell land to the Broncos. But multiple other property owners that received notices from Denver Water said they haven’t heard anything in weeks.
Denver Water’s headquarters loom over 1280 Umatilla St. and 1820 W. 13th Ave. (BusinessDen file)
Brad Eide of Elevate Cos. owns 2.4 acres across two parcels, 1280 Umatilla St. and 1820 W. 13th Ave. In March, the city signed off on his plans to build a large apartment complex at the site. In April, he got the notice from Denver Water.
In early July, Eide told BusinessDen he was “sitting here in purgatory,” unsure what would happen next. The notice had “railroaded” his financing for the project.
Reached again earlier this week, Eide said he got an independent appraisal of his property, which was sent to Denver Water before the July Fourth holiday. He’s heard nothing since then and now intends to move forward with development.
“We were a month away from closing a loan that we now have to put back together,” Eide said.
“We were taken for an unnecessary ride.”
MAP: In this interactive map, properties in blue are those that were sent a “Notice of Intent to Acquire” by Denver Water. The large property in yellow is owned by Denver Water. The large property in green is Burnham Yard. Boundaries are approximate.
A few months after sending a “notice of intent to acquire” to 23 properties near its headquarters amid talks with the Denver Broncos, Denver Water has a tentative deal to buy one of the parcels.
The municipal utility’s board on Wednesday morning will consider whether to approve a purchase agreement for 1801 W. 13th Ave., a nearly half-acre lot with two small industrial buildings on it.
Denver Water intends to pay $2.04 million for the property, according to board documents.
The property is owned by 1801 West 13th LLC, which bought it for $1.1 million in 2015, records show. That entity is managed by Peter Jacobs and Mitchell Yellen, according to loan documents from 2021.
Jacobs is president of Taylor Fence Co., which has been using the property. Yellen owns Altitude Hospitality Group, which operates a number of Colorado Springs-area restaurants. Jacobs did not respond to requests for comment Tuesday.
Under the proposed deal, the seller of 1801 W. 13th would lease the property back from Denver Water through Dec. 30. The seller would also pay up to 2.5% of the purchase price to a CBRE broker representing Denver Water.
The property at 1801 W. 13th Ave. in Denver on Aug. 11, 2025. (Hayden Kim/BusinessDen)
The proposed purchase is on the consent agenda for Denver Water’s board meeting, meaning it may not be discussed and will likely be approved in a block vote alongside other items.
The same board voted in April and May to send the acquisition notices to owners of 1801 W. 13th Ave. and a host of other properties northwest of Denver Water’s 35-acre campus.
The move prompted confusion. Denver Water has said publicly it’s “just exploring some voluntary acquisitions,” but the notices it sent included state law outlining the eminent domain process.
The deal for 1801 W. 13th is the first that the organization’s board has been asked to approve since the notices were sent.
Asked about plans for the property, Denver Water spokesman Travis Thompson referred to a previous statement that said only that acquisitions would meet “future operation needs.”
BusinessDen reported in June that Denver Water had been talking to top executives with the Broncos for more than a year about its current 35-acre campus at 1600 W. 12th Ave.
Denver Water’s land is adjacent to Burnham Yard, a 58-acre former railyard owned by the state.
The Broncos appear to have zeroed in on the site for a new stadium and have already purchased some $150 million of private property around Burnham Yard. The team maintains it is considering multiple sites for a new stadium, as well as staying at Empower Field at Mile High.
Thompson, the spokesman, declined to provide an update on the status of talks with the Broncos, telling a reporter to ask the deal.
Denver Water’s interest in land northwest of its existing campus suggests the organization could shift operations there if it agrees to sell land to the Broncos. But multiple other property owners that received notices from Denver Water said they haven’t heard anything in weeks.
Denver Water’s headquarters loom over 1280 Umatilla St. and 1820 W. 13th Ave. (BusinessDen file)
Brad Eide of Elevate Cos. owns 2.4 acres across two parcels, 1280 Umatilla St. and 1820 W. 13th Ave. In March, the city signed off on his plans to build a large apartment complex at the site. In April, he got the notice from Denver Water.
In early July, Eide told BusinessDen he was “sitting here in purgatory,” unsure what would happen next. The notice had “railroaded” his financing for the project.
Reached again earlier this week, Eide said he got an independent appraisal of his property, which was sent to Denver Water before the July Fourth holiday. He’s heard nothing since then and now intends to move forward with development.
“We were a month away from closing a loan that we now have to put back together,” Eide said.
“We were taken for an unnecessary ride.”
MAP: In this interactive map, properties in blue are those that were sent a “Notice of Intent to Acquire” by Denver Water. The large property in yellow is owned by Denver Water. The large property in green is Burnham Yard. Boundaries are approximate.
