Historic Rock Drill RiNo Site Goes to Vote on Rezoning and TIF Financing
On September 15th, 2025, the development team behind the redevelopment of the 1920's-era Denver Rock Drill Manufacturing Company site along 39th Avenue went before City Council for approval of a rezoning request and an associated Development Agreement with the city.
Oliver Buchanan Group, LLC and the property owner, 3939 Williams Building Corporation, are looking to breathe new life into the 6.69-acre industrial property, and proposed a walkable live-work-play-style district dubbed "Rock Drill RiNo."
The proposed Rock Drill Rino entertainment district rendering.
Under the requested C-MX-12 and C-MX-16 zoning, the team is looking to add up to 850,000 square feet of residential space, as well as up to 60,000 square feet of office, a boutique hotel, and around one thousand parking stalls. Drive-through restaurants and up to 70 ft tall or 5-story Townhomes would also be allowed under the change.
If approved at Monday's meeting, the Development Agreement would require nearly a dozen industrial warehouse buildings on the property to be registered under a Historic Designation, as plans indicate they will likely undergo interior renovations alongside potential new construction buildings on the western side of the property. The owners will be seeking up to $39 million in Tax Increment Financing ("TIF") through the Denver Urban Renewal Authority, the city-led organization that offers funding assistance for projects that renew and rehabilitate blighted areas throughout the city.
Former Denver Rock Drill Manufacturing Company Buildings to be Historically Designated.
(Photo Courtesy: City of Denver)
Rock Drill RiNo Final Site Plan
Though the final site plan has not been released, provisions in the agreement require that residential uses be included in the plan with a minimum of 10% designated as affordable for households making up to 50% AMI. The option to pay a "fee-in-lieu" of compliance with affordable housing standards was waived by developers.
The Sep. 15th vote will be a key milestone in the decade-long road to approval for the owners, who acquired the property in early 2015. PCL Construction has been announced as the contractor on the project, with major architecture firms Gensler, Sasaki, and Semple Brown Design all partnering on the design, as well.
