I-70 Economic Hub at Exit 240
Client: The City of Idaho Springs and the Clear Creek County Economic Development Corporation
THK Associates, Inc. was engaged to determine the physical and economic feasibility of developing an economic hub at the interchange of Interstate 70 and Exit 240 in Idaho Springs, Colorado. This hub will act as an economic generator to increase tax revenues, job opportunities and housing within Idaho Springs and Clear Creek County. THK conducted both the planning and economic feasibility studies for the Exit 240 hub.
With the anticipated closure of the Henderson Mine threatening tax revenue and incomes for residents in Clear Creek County over the next three to five years, officials are positioning the City for economic success by planning for future development that will attract new businesses, promote outdoor recreation opportunities and increase housing and lodging.
To lead the Client in future planning efforts, THK produced two documents including the Highest & Best Use Planning Study and the Highest & Best Use Economic Feasibility Study. The Planning Study details the planning process that lead to the final land use development recommendations for the I-70 Economic Hub at Exit 240. The Planning Study can be utilized for annexation and zoning of parcels to be developed as an economic hub. The Planning Study also examines appropriate land uses, access points, the extension of City infrastructure to meet the needs of potential new development and the logistics of relocating the School District bus barn. The Economic Feasibility Study outlines the economic research gathered to support the planning recommendations, details the economic factors examined, market demand and values and potential return on investment for the implementation of various land uses.