A 65-acre mixed-use development project called Miller's Landing in Castle Rock is a step closer to fruition with the $7.8 million acquisition of the land by Chicago-based P3 Advisors.

P3 Advisors will complete the horizontal development of the site in conjunction with Crown Community Development and Avison Young Development.

P3 is in the planning stages for needed infrastructure improvements on the site at the northwest corner of Interstate 25 and Plum Creek Parkway, and has a goal of having pad sites ready to sell to vertical developers at the end of 2018, said Shawn Temple, managing director and co-founder of P3 Advisors.

A public financing package worth $65 million to help with infrastructure was approved by the Castle Rock Town Council in April. The site was once a landfill but has sat vacant since 1979.

P3's projects have taken place in Chicago so far, but the company has experience in brownfield development.

Read more at the Denver Business Journal: http://bit.ly/2hPe424