AURORA, Colo. (CBS4) – The fast-paced redevelopment on the Anschutz Medical Campus and near the Fitzsimons area in Aurora is giving a bounce to the local economy.

“This is exactly what they hoped for and planned for,” said Wendy Mitchell, the president and CEO of the Aurora Economic Development Council.

READ MORE: 'Step In The Right Direction': Black Denver Activist Cautiously Optimistic Following Chauvin Verdicts

Construction along the East Colfax Avenue corridor is supplanting some quieter areas of long-term decline. Meanwhile, the biotech industry near the University of Colorado hospital and the VA hospital is bringing in higher-paying jobs.

“The economic impact of this campus today is actually more than that of the entire ski industry,” Aurora Mayor Steve Hogan says.

The boom is clear, he says.

“Today we already have more than 20,000 people a day working here or going to school here. When the area is built out, it will be more than 50,000 people,” Hogan said.

READ MORE: Skier Tumbles Estimated 2,000 Feet From 14er Summit

The redevelopment is good news for residents like Jim Jacobs, who says he welcomes a new generation moving in.

“Back and forth, on bicycles and scooters, (there are) young people you didn’t see before construction,” Jacobs said.

Hogan says the original plan called for the redevelopment to stretch over 25 to 30 years. The University of Colorado Hospital and Children’s Hospital moved to the Anschutz campus seven years ago.

 

 

MORE NEWS: Mass Vaccination Sites In Colorado Now Open To Walk-Ups: 'No More Excuses'