Site / Project Name |
Mighty Argo Mill and Tunnel Redevelopment project |
|---|
Brownfield Site Address |
2350 Riverside Drive, Idaho Springs, CO 80452 |
|---|
Site Owner |
Argo Holdings LLC |
|---|
Clear Title |
Yes |
|---|
Owner Contaminator |
No |
|---|
Former Use |
1893-1943, Drainage, Transportation, Milling, Tunneling, Abandoned 1943, Purchased in 1973 as Tour Site from 1973- present |
|---|
Land Use |
The Mighty Argo Mill and Tunnel is a National Historic Superfund Site. It is a 27 acre parcel, that is one of the most iconic sites visible from I-70 through Idaho Springs. Operational from 1893 to 1943, it was the site of major advancements in Gold mining, milling and Tunneling technology during the Industrial Revolution. It was financed with seed funding from the Duke of York. Nicola Tesla and other major innovators and captains of industry contributed to the site and technological advances occuring there. The City of Idaho Springs is the site of the First Major Gold Discover in Colorado. The entire community has major historic significance, AND it is the first community West on I-70 from Denver with over 18,000,000 vehicles per year driving thru/by. |
|---|
Infrastructure |
on Riverside Drive (city Street), Bike trail, greenway. Less than 1/2 mile access to Interstate 70. Prominent View to and from I-70 |
|---|
Assessment Level |
Phase 1
The Argo is a Superfund Site within the Central City Idaho Springs Superfund Area established in 1983. We are currently a BFPP |
|---|
Contaminants |
|
|---|
Cleanup Program |
No |
|---|
Remediation |
Yes
Yes, the the EPA has installed a water treatment plant from flow out of the 4.2 Mile ARGO Tunnel. Catch basins have been installed at the base of the Bevill Waste Rock |
|---|
Developer |
Yes
ARGO Holdings, LLC |
|---|
Future Use |
Mixed Use
Colorado Greenway/Peaks to Plains Trail, Gondola, Housing, Hotel, Destination Restaurant, Retail and Maker spaces,Markets. |
|---|
Financing Tools: Federal Programs |
TBD |
|---|
Financing Tools: State Programs |
TBD |
|---|
Financing Tools: Funds Committed |
We have already invested over $2,000,000 in the site. |
|---|
Challenges |
Financing; Adopting a Redevelopment Plan for the site; Assessment and Cleanup of property
This is a very complex site with lots of moving parts. We have currently identified six operating units. 1. Mill and Tours, 2. Gondola and trails, 3. Base Village with housing, retail, office and maker spaces; 4.Hotel and Restaurants/Conference Center; 5. Argo East Housing; 6. Argo West Housing. |
|---|
Technical Assistance |
Tax Increment Financing; Historic Tax Credits; New Markets Tax Credits; Bonds; EB-5
Opportunity Zone, Metropolitan District, Superfund Initiatives, Brownfields Funding. |
|---|