[CPEO-BIF] Golden Cycle Mill, Colorado Springs

[Lenny Siegel <lsiegel@cpeo.org>]

New lode comes to smelter: housing

877 homes set for Springs site. The 210-acre parcel in the heart of the 
city is being redeveloped with financing from Brownfields Capital.

By Margaret Jackson
Denver Post
April 12, 2006

After 50 years of lying idle, a former gold smelter in the heart of 
Colorado Springs will be redeveloped into housing, stores and offices.

The former site of the Golden Cycle Mill is believed to contain as much 
as $305 million worth of gold. But Robert Hadley, owner of the 210-acre 
parcel, says there's more to be gained by cleaning it up and developing it.

"There's a lot of gold in seawater, too," Hadley said. "The question is, 
can you get it out economically? The value of gold is a little like a 
mirage. You'd spend almost as much to get it out as the gross revenues 
would be."

Development plans call for a dense commercial and residential core 
anchored by a community center with parks and residences. A total of 877 
condos, townhomes and single-family detached units are being developed. 
John Laing Homes will buy more than 40 percent of the available lots.

...

For the entire article, see
http://www.denverpost.com/business/ci_3700054

--


Lenny Siegel
Director, Center for Public Environmental Oversight
c/o PSC, 278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org

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