As Colorado has been preparing to sell Burnham Yard — Denver’s historic rail yard south of Colfax Avenue and east of Interstate 25 — the area around it has been hot with real estate deals.

A series of land sales have been tied to the Denver Broncos for a potential new stadium, as first reported by BusinessDen.

At least 10 properties have been bought under different LLCs in the area totaling $146 million, the report published Wednesday morning said, and have been handled by an attorney who worked with the Broncos general council Tim Aragon.

A Broncos spokesperson said the team would not comment on the reported transactions but added they are continuing to evaluate their stadium options, as the lease on Empower Field is set to expire after the 2030 season.

“As we’ve previously shared, we are involved in a comprehensive process regarding the future of our stadium. No determinations have been made as we continue to evaluate several options in and around the Denver metro area,” the spokesperson said in a statement to The Denver Gazette Wednesday.

Lee Ann Fowler of Hogan Lovells law firm who handled the transactions declined to comment.

In March, Broncos owner Greg Penner said the team had narrowed their search to sites around Denver, Lone Tree and Aurora.

“We’re really focused on what’s the best option long-term,” Penner said. “We’re thinking, and we want to create what’s the best option for the next 40 or 50 years, not the next 10 or 20 years.”

Owner Greg Penner on next stadium: Broncos pursuing 'best option for next 40 to 50 years'

The historic Burnham Yard is a banana-shaped plot of land located about a mile from Empower Field, on the opposite corner of where Colfax Avenue and the interstate meet.

The site has been home to rail operations before Colorado became a state and has long been an area the surrounding industrial neighborhood has advocated to be redeveloped after it shut down in 2016.

La Alma-Lincoln Park is home to a large blue-collar and Latino population and the epicenter of Denver’s Chicano movement.

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David Griggs, a board member of the La Alma-Lincoln Park Neighborhood Association, told The Denver Gazette he doesn’t know what the Broncos’ plans are for the area — but it has been a rumor they are planning to build a stadium for months.

He said he hopes whoever buys the railyard will prioritize the neighborhood.

“Whatever happens at Burnham Yard should be a community asset and should support the community and respect the history of the community” Griggs said.

“It’s possible for a stadium project to be a community asset,” he added. “Typically they are not.”

The state currently owns Burnham Yard after the Colorado Department of Transportation bought the 58-acre property in 2021 with plans to widen I-25 and relocate consolidated mainline railroad tracks.

But after conducting a transportation planning study, the state found it wasn’t feasible and didn’t need all the land for transportation infrastructure and has begun the process to sell it.

A CDOT spokesperson did not comment when asked about whether the Broncos have talked with the state or if there are buyers interested.

“The Colorado Transportation Investment Office (CTIO) is still conducting due diligence on the most beneficial uses and site preparation to eventually sell the property,” a CDOT spokesperson said in a statement.

Back in April, Burnham Yards came up during a Colorado Economic Development Commission meeting.

CDOT asked the EDC to extend an $7.5 million loan that was set to expire this month for another two years to give more breathing room for an anticipated sale, but the EDC approved an extension for only one year with the option to renew it again if a deal needs more time.

The state is aiming to sell it before May 2026.

State officials discussed then that they believe it’s a valuable property with many potential uses.

“We’ve really been working on getting some demolition permits for the non-historic structures out there and starting conversations with our project partners on potential buyers,” said Piper Darlington, the director of CDOT’s investment office in the April meeting. “But nothing’s been identified yet.”

She added that the work the state has been focusing on lately is to prepare it to “move on to having a next life.”

In May, Gov. Jared Polis announced the state bought the Burnham Lead Line that could unlock development opportunities for the site, 9News reported. 

At the press conference, the governor said the site is “a very special state property with unparalleled transit-oriented development potential.”