A Denver plan to constrict where developers can build gas stations could scuttle up to $50 million in pending projects.

Owner of Red Bank eatery Birravino announces he's under contract to buy the eyesore vacant gas station at the town's northern entrance.

The ordinance makes it so gas stations cannot be built within a quarter of a mile of another gas station or light rail station.

The proposed Denver ordinance, scheduled to be heard Tuesday by the City Council, would prohibit new gas stations from being built within 300 feet of a protected, low-intensity residential district or from within a quarter-mile of existing gas stations or rail stations.