The Broncos, Denver's mayor and Colorado's governor said the railyard in Denver is the preferred site to build a new stadium in time for the 2031 NFL season.
DENVER — Put a (retractable) lid on it. Burnham Yard it is.
The Broncos in a joint statement with the City of Denver and State of Colorado announced on Tuesday the historic railyard in the heart of Denver is the preferred site for team owners Greg and Carrie Penner to build a new retractable-roofed, natural grass playing field stadium in time for the 2031 NFL season.
The project will be funded by a private investment from the Penners with city and state support for public improvements and “no new taxes,” according to the joint statement from Greg and Carrie Penner, Denver Mayor Mike Johnston and Colorado Gov. Jared Polis.
The team stopped short of saying it’s definitively going forward with building a new stadium. There is no groundbreaking ceremony or renderings accompanying the Burnham Yard announcement.
“While this is an exciting milestone, we recognize there is much more work to be done ahead of a targeted stadium completion for the 2031 NFL season,” according to the joint statement. “Today is not yet a celebration but rather a meaningful checkpoint reflecting years of research, collaboration and planning, as well as necessary land agreements and feasibility studies. Most importantly, this announcement marks the beginning of a much deeper and transparent phase of broader engagement with our neighbors.”
The Broncos also considered Lone Tree and Aurora as potential sites for their new stadium before deciding keeping it within the Denver city limits. Aurora was never in serious consideration although meetings were held between officials of that city and the Broncos. Lone Tree, though, made an aggressive presentation and city and Douglas Country officials met several times.
“I spoke to Mayor (Marissa) Harmon this morning,'' said Broncos' president Damani Leech. "First and foremost they’ve been great partners throughout this. As we told you and told them we’re trying to be transparent and open but also comprehensive and go about a respectful process and she was very gracious in her response. As I said to her they have been in this process great partners and great to work with. It’s a great community down there and we really did consider it seriously.”
A Denver location was always the favorite as the Broncos have played home games in Denver and a version of Mile High Stadium for going on 66 years.
Burhnam Yard is approximately one mile southeast of the Broncos’ current Empower Field at Mile High stadium, which is in its 25th season.
In an interview with 9NEWS, Polis said that Greg Penner told him in 2022 he was looking for a site for a new stadium. Penner toured Burnham Yard and “fell in love,” Polis said.
“We made the match,” he said.
The governor said the Walton-Penner ownership group told him they didn’t want to “roll the dice” on a taxpayer-funded stadium that could result in a fight with fans or hurt the Broncos brand.
If the Broncos go through with construction as expected, there will be no public funding for the stadium and surrounding neighborhood, according to the joint statement from the team, Johnston and Polis. The Penners, who are the Broncos' primary owners, are privately funding the stadium, the land, the surrounding development and all construction costs, the statement says.
The city will pay for public improvements with connectivity to the neighborhood in the form of roads, exit ramps, RTD and accessibility, according to the joint statement.
“They didn’t come in saying, ‘Hey, we need Denver taxpayers, or regional taxpayers, to do anything,’” Polis said. “They just said, ‘We want to provide a home for the Broncos,’ and we got to do our job and making sure the roads get there and the trains run.”
Polis said RTD has existing light rail infrastructure. The RTD 10th and Osage Station is near the property.
Johnston also said the city won't pay for the stadium but will pay for infrastructure around Burnham Yard.
About 15% of bond projects on the Denver ballot in November would result in work along the 8th Avenue viaduct and along 6th Avenue – both areas around Burnham Yard. In an interview with 9NEWS, Johnston said that aging infrastructure has been on the table for a long time and the city had been looking at doing improvements there if they were the ones to develop the Burnham Yard property.
"Once there's a plan for the neighborhood, once there's a plan for the stadium site, we'll help make sure there are streets that can get into that, or sidewalks that get into that, as we would with any convention center or shopping mall," Johnston said. "We still have the public right of way opportunity and obligation."
While the site spans more than 100 acres, there were two major real-estate transactions involved: One, the State of Colorado has agreed in concept to sell the 58-acre Burnham Yard to the Broncos. Two, the City of Denver has agreed to sell its Denver Water 25-acre plot to the Broncos with the team aiding the relocation of Denver Water to another part of the city, Denver Water said in a statement.
The Administration Building, where roughly half of its 1,200 employees work, will stay in its current location. Buildings that house Denver Water's operations and maintenance, distribution, trades, fleet, meter shop, warehouse and health clinic workers will need to be relocated, Denver Water said.
"While this is not something we sought, Denver Water understands the significance of this opportunity for the city of Denver and the economic importance for the larger community we serve," said Denver Water CEO and manager Alan Salazar. "Over the last several months, we have been exploring how we can help to keep the Broncos in Denver at their preferred location without compromising our critical mission or jeopardizing our financial or operational needs. Most of all, accommodating a new stadium cannot be financed or subsidized by our rate payers."
There are also multiple private real-estate transactions that account for nearly 20 more acres of land, officials said.
The Broncos said they are also committing to what is called a Community Benefits Agreement with the project, which means the team will work with the Denver City Council on the needs of the surrounding neighborhoods and community organizations. The Broncos said they are promising to preserve the historic buildings on the Burnham Yard site.
"Together, we are pleased to announce historic Burnham Yard in the heart of Denver as the preferred site for a world-class retractable roof stadium anchoring a dynamic mixed-use district," said the joint statement from the Penners, Johnston and Polis. "Once a vital railyard that played a key role in Denver’s past, Burnham Yard now represents a transformational opportunity to reimagine the future with deep respect for the rich history of the area.
"In the spirit of a true civic partnership, the Walton-Penner Family Ownership Group will privately fund this investment and work with the community, city and state to reconnect historic neighborhoods — with no new taxes," the joint statement says. "These shared public improvements will ensure benefits extend far beyond gamedays with better accessibility, connectivity and multimodal transit options."
Burnham Yard is off the Interstate 25 corridor between 6th and 13th avenues, bordered by Seminole Road and Osage Street to the west and east. For nearly 150 years, Burnham Yard was a major railyard for the Rio Grande and then the Union Pacific railroads. Burnham Yard ceased operations in 2016, and Union Pacific Railroad sold the site to the state of Colorado in 2021.
While still in the preliminary stages of planning, the stadium’s initial design concepts include a retractable roof and natural grass field, the joint statement says. The roof is key as besides giving the Broncos the option of playing in the elements or indoors, depending on Colorado’s weather, it also opens up the possibilities of hosting a Super Bowl, Final Four, College Football Playoff Games, WrestleMania, year-round concerts and other events.
The mixed-use district is slated to have more than 4 million square feet available for development and will feature restaurants, retail outlets, hotel and housing options, office spaces, entertainment venues and parks, the joint statement says.
Currently, the largest privately funded sports venue is SoFi Stadium, where Stan Kroenke’s company privately funded the $5.5 billion project, which opened in time for the 2020 NFL season. That cost was inflated due to some construction issues, and while the Broncos aren’t far enough along to share cost estimates, it figures to be a multi-billion dollar private investment at a minimum.
The Broncos’ new stadium and multiuse project is expected to exceed that figure. The other eight NFL stadiums that have opened within the last 10 years have combined to use $6.5 billion in public funding, as follows:
With such a large privately funded commitment, it figures that personal seat licenses (PSLs) would be used as they have for every other stadium built over the last decade-plus, should the Broncos advance to that stage. A PSL is a one-time fee paid to a team that entitles a season-ticket holder the right to buy his or her seat.
The Broncos’ current stadium at Empower Field opened in 2001. Taxpayers funded 75% of the $400 million stadium by piggybacking off a 0.1% sales tax that was used to build Coors Field, home of Major League Baseball’s Colorado Rockies. The Penners, who have owned the Broncos for a little more than three years, have poured more than $100 million into upgrading the current stadium of Empower Field.
The Broncos said their research shows 30 years is a common milestone for professional sports venues to undergo a complete replacement or extensive renovation. Fans attending games have greater expectations of comfort and technological advances than they had 30 years ago.
The team said their research over the past few years has included surveying more than 10,000 season ticket members, conducting more than 100 focus groups, interviewing team partners, consulting with industry experts and visiting venues throughout sports.
The Penners are also in the process of building a new $175 million practice and training facility at their Englewood headquarters.
Jennifer Campbell-Hicks and Steve Staeger contributed to this article.