Colorado officials are advancing a plan to transform a 41-acre state-owned property in Golden into hundreds of new housing units through a long-term public-private partnership. The proposal centers on a 99-year ground lease that would keep the land in public hands while allowing private developers to build and operate housing on the site.
According to Daljoog News analysis, the structure is designed to reduce upfront development costs while preserving public ownership, a model increasingly viewed as a practical response to Colorado’s affordability crisis.
The property, known as Golden Range at Lookout Mountain, represents one of the last large undeveloped tracts within Golden’s boundaries. In a city largely built out and constrained by geography, the parcel is seen as a rare opportunity to add housing at scale.
What Happened?
The state of Colorado has opened a competitive bidding process for developers interested in building 300 to 400 multifamily housing units on the site.
At least 80 units would be reserved for low-income residents. Additional housing would target moderate-income households earning between 80% and 120% of the area median income.
The land sits between Fossil Trace Golf Course and a state youth services facility. It is currently zoned for single-family housing, meaning higher-density development would require approval from the City of Golden and likely rezoning.
The state’s Public-Private Partnership Collaboration Unit, created by the legislature, is overseeing the process. The office focuses on using state land and partnerships to expand housing and childcare infrastructure.
More than 20 developers attended an initial site visit. The bidding window closes March 17, marking the next major milestone in the project’s early-stage planning.
If the project clears regulatory and local review hurdles, construction could begin as early as 2028.
Why This Matters
Golden faces the same pressures seen across Colorado: rising rents, limited land supply, and slow housing growth.
Unlike fast-growing suburbs, Golden is geographically constrained and largely built out. That makes any sizable parcel of available land strategically important.
The 99-year ground lease model aims to lower barriers to development. In traditional real estate projects, developers must finance land acquisition upfront, often adding millions in early costs. Under this model, the land remains publicly owned, and the developer spreads lease payments over decades.
By reducing initial capital requirements, the state hopes the savings translate into lower rents and improved project feasibility.
The plan also supports the city’s interest in lower-profile development. Officials anticipate attached housing units rather than high-rise towers, aligning with Golden’s existing character.
From a fiscal standpoint, the project could strengthen the local tax base. The site currently generates no revenue. Once developed, residents and commercial tenants would contribute property and sales taxes.
What Analysts or Officials Are Saying
State officials describe the project as an opportunity to convert underutilized public land into long-term community value.
Doug Platt, communications manager for the P3 Collaboration Unit, has indicated the goal is to expand low-income and attainable housing options while maintaining public ownership of the property.
Water infrastructure remains a key factor. Sean Flanagan, a Colorado water broker who has followed the proposal, has emphasized that secure water supplies are essential in any Front Range development.
Golden’s relative lack of outward expansion over recent decades may actually work in its favor. Because the city has been landlocked, it has not experienced the same rapid depletion of water allocations seen in faster-growing municipalities.
City and state officials are evaluating water, sewer, and broader utility capacity as part of the review process.
Housing advocates generally view long-term public land leases as a promising affordability tool. However, they note that final rent structures and income thresholds will determine whether the project truly addresses workforce housing gaps.
Daljoog News Analysis
Colorado’s approach reflects a broader shift in housing policy: governments are increasingly leveraging land instead of subsidies alone.
Public land represents one of the few levers states can control directly. By retaining ownership under a 99-year lease, Colorado keeps strategic flexibility while enabling private-sector efficiency.
Still, challenges remain.
Rezoning could trigger local debate. Golden residents may question density, traffic impacts, and neighborhood character. Water capacity, while reportedly manageable, will face scrutiny in a state where drought and allocation disputes remain constant concerns.
The long timeline also introduces uncertainty. With construction potentially starting in 2028, economic conditions, interest rates, and construction costs could change significantly before ground is broken.
Another factor is scale. Even 400 units, while meaningful for Golden, represent only a fraction of Colorado’s broader housing shortage. The project may serve more as a pilot model than a statewide solution.
If successful, the framework could be replicated across other state-owned parcels. If it stalls, critics may argue that regulatory and local hurdles limit the effectiveness of public-private housing partnerships.
What Happens Next
The immediate step is the close of the developer bidding process on March 17.
After submissions are reviewed, the state will select a development partner and begin detailed negotiations over lease terms, affordability requirements, and design standards.
The project must then secure approvals from the City of Golden, including potential rezoning and site plan authorization.
Infrastructure assessments will continue, particularly regarding water and sewer service capacity.
If approvals proceed without major delays, officials estimate construction could begin in 2028, with phased development likely extending several years beyond that.
For Golden, the decision represents more than a housing proposal. It signals how a landlocked city plans to balance growth, affordability, and preservation.
For Colorado, it may become a test case for whether long-term ground leases can unlock meaningful housing supply without surrendering public assets.
