The 72-acre Buckley Annex containing the 600,000 square foot Defense Finance and Accounting Services (DFAS) was the last remaining military use located on the former Lowry Air Force Base in Denver. In 2005, BRAC voted to close the Buckley Annex and relocate the DFAS and ARPC to Buckley Air Force Base in east Aurora, Colorado. EPS was part of a multidisciplinary team responsible for the creation of a redevelopment plan for the property.
EPS prepared a market analysis forecasting residential, retail, and office development potentials for the site. The market findings were inputs to the formation and evaluation of plan alternatives and refinement of a recommended land use plan for the site. The Buckley property was determined to have the potential for a predominately residential mixed use development that can take advantage of the desirable location and high values already established by the 3,000 housing units and 1.6 million square feet of commercial space developed at Lowry over the last 10 years. EPS was also responsible for a financial model to estimate a sale value for the property and to evaluate the Air Force’s independent appraisal for the site.