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DIA makes final $55.5 million payment to former developer of Great Hall project

The airport terminated its contract with Great Hall Partners last year.

DENVER — Denver International Airport has ended its relationship with the former developer of the millions of dollars over-budget and years behind schedule Great Hall project with a final $55.5 million payment.

The airport terminated its relationship with Great Hall Partners last year and, according to the terms of the deal, had to pay them back for equity investment and work done to date.

Since ending its relationship with Great Hall Partners, DIA has reimbursed the developer $183.6 million.

> Watch the video above for a previous story about DIA's "divorce" from Great Hall Partners.

RELATED: City Council approves new contract for Great Hall project at DIA

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Back in February, Denver City Council approved a new contract for the Great Hall renovation, which sat dormant for months. The goal of the whole operation was to move security out of the airport’s Great Hall and to increase its capacity.

The new developer, Hansel Phelps, took over the project in March. Airport officials have said the work was about 25% complete when it ended its relationship with Great Hall Partners.

Work began in July 2018, and it is believed phase one of the multi-year project will possibly end by late 2021.

“We’re going back and we’re finishing demo,” Senior VP of Development and Special Projects with DIA Michael Sheehan told city council in February. “Yes, you heard me correctly, demo’s not complete.”

RELATED: Developer claims DIA's Great Hall project would have cost more than $1B to finish

RELATED: DIA terminates agreement with contractor for Great Hall Project

RELATED: DIA's Great Hall renovation isn't paid for by tax dollars

The original project was a public-private partnership with Great Hall Partners, comprised of Ferrovial Airports, JLC Infrastructure and Saunders Concessions. The 34-year agreement called for Great Hall Partners to design and construct all improvements, followed by 30 years of operations and maintenance within specific commercial areas of the terminal.

Great Hall Partners would have received 20% of revenues. Now that the contract has been terminated, moving forward, the airport will operate any commercial development and keep 100% of revenues.

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