DENVER (KDVR) -- The Denver Broncos announced on Tuesday that they are planning to build a new stadium at Burnham Yard, a 58-acre abandoned railyard located less than a mile southeast of their current stadium, Empower Field at Mile High.
The proposed stadium site — which was chosen over other possible locations in Aurora, Lone Tree and Denver — will specifically be situated between 6th and 13th Avenues to the south and north and bordered by Seminole Road and Osage Street to the west and east, according to the team.
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“The Broncos are staying in Denver, we will finally open up the historic Burnham Yard neighborhood for development, and we get to reimagine the Mile High Stadium site as a thriving community in West Denver," said Denver Mayor Mike Johnston, in reaction to the reveal.
The Broncos said they selected Burnham Yard due to it offering an "accessible, historic location in the heart of Denver." The team said the site has the potential to be "revitalized into a thriving development connecting fans, neighbors and future generations across Colorado."
"One of our goals is to make sure that we are engaging community members 365 days a year in the area around the stadium," said Broncos Owner Carrie Walton Penner, in a statement.
With this in mind, here are five things to know about the Broncos' new proposed stadium site, according to the team:
Total area
The entire area for the stadium and mixed-use development is more than 100 acres.
What does the deal look like?
The Broncos have a conceptual agreement with the state to purchase Burnham Yard at cost, as well as an agreement in concept to purchase 25 acres from Denver Water.
What about the surrounding area?
Various private real estate acquisitions will make up the rest of the stadium site.
It's more than a stadium
The stadium area will act as a base for the redevelopment of the site as a "transit-oriented" neighborhood, including multi-modal transit options and a walkable neighborhood that is adjacent to public transportation.
How is it getting funded?
The stadium and mixed-use district will be funded through a private investment from the Walter-Penner Family Ownership Group.
‘Insult to the history’: Historic buildings demolished at Burnham YardThe Broncos said the city of Denver and the state will provide support for public improvements that the team said will benefit the community year-round, without any new taxes for residents.
There is still no specific timeline for when a potential groundbreaking could occur, according to the team, which said it is targeting having the stadium completed in time for the 2031 NFL season.
The Broncos' current lease at Empower Field at Mile High notably expires with the Metropolitan Football Stadium District at the end of 2030. The team said it could also choose to extend that lease, if needed.
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