The Broncos have long been considering potential sites for a new stadium, and rumors have suggested that in addition to the heart of Denver, the Broncos considered moving their location to Lone Tree, Aurora, Wheat Ridge, and Commerce City. The conversations about whether, when, and where to move the stadium to include long-needed upgrades like a retractable roof came to the forefront not long after the Walton-Penner family ownership group closed on the purchase of the team for $4.65 billion in 2022. The team has been leasing the existing Empower Field at Mile High from the City of Denver, and that lease is set to expire in 2030.
On September 9, 2025, the Denver Broncos announced their preferred site for a new, privately funded stadium with a retractable roof: Burnham Yard, a 58-acre state-owned former railyard just south of downtown Denver. The former railyard was purchased by the state in 2021 from Union Pacific for $50 million.
The decision has sparked widespread attention—not only among fans, but also in Colorado’s business and legal communities. If realized, the project could reshape Denver’s urban core, bringing with it complex questions of law, land use, and economic development.
Over the past year, the Broncos’ ownership group has already purchased numerous parcels surrounding Burnham Yard—at least 10 properties totaling more than $146 million – through a number of LLCs paying cash to close the transactions, often at above-market rates, all apparently subject to non-disclosure agreements. At the same time, Denver Water has also been acquiring properties in the area, raising concerns that eminent domain could be used indirectly to facilitate the stadium project.
Colorado law is notably restrictive on eminent domain for private development after the state’s backlash to Kelo v. City of New London, 545 U.S. 469 (2005). Unless a project serves a clear public use, condemnation to benefit a private developer is generally prohibited. If landowners believe their property is being targeted primarily for the Broncos’ benefit, litigation is almost inevitable.
Because Burnham Yard is state-owned, the transfer of this property will require complex negotiations between the Broncos and Colorado officials, including Governor Jared Polis’s office.
State procurement and transparency laws may apply, particularly if infrastructure support or tax incentives are involved. The deal structure will be closely scrutinized to ensure compliance with statutory requirements and to guard against claims of improper favoritism.
In one of the parcel acquisitions in the area, Broncos-linked entities purchased a lot from the Denver Housing Authority (DHA) at 10th and Osage, subject to a binding requirement: they must deliver at least 150 affordable housing units within one mile of the site by 2027 and complete the project by 2031.
If this obligation is not met, DHA can repurchase the land at a below-market price. This creates a unique legal obligation embedded within the stadium development—a reminder that sports and real estate deals increasingly must address equity and housing affordability concerns. The requirement of affordable housing on one of the Burnham Yard-adjacent parcels further emphasizes the intention that this area will include substantial mixed-use development, and may provide some limited relief from the fear that the entire development will gentrify the Lincoln Park neighborhood.
The Broncos envision the stadium as the anchor of a broader district, with entertainment, retail, hospitality, and residential uses surrounding the site.
This mirrors national trends in stadium development, where teams increasingly pursue mixed-use districts (e.g., Atlanta’s Battery, Los Angeles’s SoFi District). From a real estate law perspective, these projects require complex zoning changes, development agreements, and long-term lease structures.
A new downtown stadium, especially one with a retractable roof, could dramatically expand Denver’s ability to host global-scale events such as the Super Bowl, NCAA Final Four, or even concerts requiring weather-proof venues. The resulting tourism and hospitality activity would likely boost local tax revenue and create thousands of jobs.
Public opinion will be shaped not just by the stadium itself, but also by the ancillary benefits promised—particularly the affordable housing requirement. Transparency, community engagement, and delivery on social commitments will determine whether the project is viewed as a civic benefit or corporate land grab.
The Broncos’ announcement is far more than a sports story—it is a transformational real estate and legal development for Denver.
From land assembly and zoning to affordable housing and infrastructure, the Burnham Yard project will test the intersection of law, policy, and business strategy. For property owners, developers, and investors, it also underscores the importance of early legal guidance in navigating Colorado’s evolving urban landscape.
