Council Rejects Mayor's Deal for Downtown Auto Repair Site
Denver City Council has rejected Mayor Mike Johnston's bid to buy a shuttered auto repair shop at the edge of downtown.
"We're being asked to buy downtown property in a depressed real estate market where nearly everything is for sale and no one is buying,"
a councilwoman said. The proposed purchase agreement for the former Goodyear property at 1460-1480 Tremont Place was voted down 7-4.
- The city would have paid $2.5 million for the 0.29-acre site.
- The plan was to build income-restricted housing at the site through a ground lease deal with a developer.
- Council members expressed concern that the purchase funds would come from designated contingency funds.
Author's summary: Council rejects mayor's $2.5 million deal.
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