Forest City, a national real estate development firm,

Forest City, a national real estate development firm, has been selected as the codeveloper, with the Stapleton Development Corp., of the former Stapleton Airport in Denver, Colorado. Forest City agreed to pay the city $83.8 million for 2,935 acres ($28,560/acre). In addition, the firm will pay $44 million ($15,000/acre) into an improvement district for infrastructure, according to Tom Gleason, spokesman for Stapleton Development Corp. Forest City hired new urbanist Calthorpe Associates of Berkeley, California, to plan the physical development of the site, which connects to the traditional street grid of Denver. According to a conceptual plan approved by the city, the former airport will be developed as a series of walkable, mixed-use neighborhoods based on the best examples of Denver’s traditional neighborhoods. The Stapleton Development Corp., a public sector nonprofit, will oversee the infrastructure development and preservation of open space, and make sure that Forest City meets design guidelines. Forest City plans to sell off portions of the site to subdevelopers, Gleason says.