City of Golden and Coors Agree to Terms on Property Acquisition

The City has been in negotiations with Coors and has reached agreement on terms for the purchase that include:

• A 160,000 square foot office building at 311 10th St.

• 7.1 acres of land on multiple parcels

• The sale price of $12.25 million

• The agreement that Coors Employees will consolidate to one or two floors and can remain in building (without paying rent) until Jan. 30, 2020

• A significant amount of office furniture included in purchase price

With the purchase, the City of Golden intends to renovate the office building into a new Civic Center, which will include City of Golden administrative offices, the Golden Police Department, the Golden History Museum, and space for other community cultural entities. Under the plan, the proposed Civic Center would replace the existing City Hall building at 911 10th Street as the home to Golden city government.

“We envision a vibrant gathering place for the community with consolidated City offices as well as room for some of our cultural entities to expand and thrive,” said City Manager Jason Slowinski. “This project will help address some of the community’s capital needs recently identified by the Golden Investment Task Force.”

The Golden Investment Task Force is a City Council-appointed working group that met throughout 2018 to help identify and prioritize Golden’s future capital investment needs. The purchase also allows the City greater control over the future development of the Clear Creek corridor in downtown Golden. If the purchase is approved, the City will engage in a lengthy public input process to determine future land uses of the existing City Hall and History Museum sites as well as the additional acreage acquired in the purchase.

More information regarding the work of the Golden Investment Task Force can be obtained at www.guidinggolden.com/golden-investment-forums.