If the deal is approved by the City Council, developer HM Capital would give the city about $650,000 for the design and construction of a city park on a roughly 0.35-acre parcel HM owns on Fairfax Street, south of East 29th Avenue.

In exchange, Denver Parks and Recreation would transfer a city-owned property of similar size across the street — bought with intentions of building a park — to HM for potential redevelopment. The parks department announced its decision in an email to Park Hill community contacts in the late afternoon.