$33 Million of Land Acquired for Mixed-Use Project

Alberta Development Partners LLC announced on Oct. 8 that it has finalized the purchase of $33 million worth of land in Aurora, creating the largest and most progressive single retail, residential and commercial project in Colorado. Alberta and its equity partner, Pacific Coast Capital of San Francisco, completed the acquisition of seven different parcels on Sept. 16.

Named Southlands, the mixed-use retail destination combines elements of today's most popular shopping attractions, including aspects of a lifestyle and entertainment center, town center and super regional power center. To be located at E-470 and Smoky Hill Road, the Class A, retail-dominated center will set the standard for regional town center developments, offering town plazas, landmark clock towers, pop jet fountains, festivals, concerts, bistro restaurants and sidewalk cafés. Construction has begun and Phase I of the project will open in fall 2004.

"The southeast quadrant of Aurora is growing rapidly and will eventually contain more housing than Highlands Ranch," said Don Provost, principal of Alberta Development Partners. "We believe the community will embrace the convenience and amenities Southlands has to offer."

The completed value of the project will exceed $250 million, and will contain 1.5 million sq ft of retail space, more than 1,100 residential units and approximately 250,000 sq ft of commercial office space in its 301 acres. Additionally, Southlands will create more than 1,000 construction jobs and an estimated 4,000 to 5,000 full- and part-time jobs at completion.

Department and grocery stores, movie theatres, restaurants and other major retailers have already committed to the strategically placed development. Provost anticipates the property will also house many Colorado-based retailers and restaurants, businesses new to the state and a variety of entertainment options.

Construction Begins on Central City Highway

The narrow, twisting road to Central City is about to get a lot straighter and shorter. On Oct. 3, the Central City Business Improvement District celebrated the construction start of the new $38.3 million Central City highway.

When finished next fall, the new four-lane road will provide a quick, easy and scenic transportation option for drivers traveling to Central City and other historic mountain communities. The CCBID is also launching a naming contest asking the community to help create a name for the highway, scheduled to open in November 2004.

Central City's new highway is an 8.4-mile, four-lane highway from Hidden Valley at I-70 Exit 243, straight into downtown Central City. The roadway will have a total paved width of 64 ft, including eight-ft wide shoulders on each side, and locations along the road for scenic pullouts.

The maximum grade along the roadway is eight percent, which is similar to the grade on the eastbound frontage road to I-70 at Floyd Hill. Rock-catch ditches are being constructed to help prevent falling rock from bouncing onto the roadway and a south exposure of a majority of the road will accelerate snowmelt. The highway will be maintained and patrolled by Central City.

"Central City's vision for a new highway has been carefully nurtured and sustained by local businesses for the past 10 years," said Ross Grimes, president of the Central City Business Improvement District. "It was important for us to take the time to create a superior highway without burdening the taxpayers with the cost of paying for it. It was worth the wait."

The highway bonds will be repaid by taxes collected within the Central City Business Improvement District.

Estimated to take only 12 minutes from its I-70 exit into Central City during good weather, the new Central City highway has been designed to accommodate every type of visitor to the area. In addition to providing a modern, quick road for gaming patrons, the highway will also be a scenic route for tourists and skiers to travel to the local mountain communities.

The road is being constructed by the design-build team of Ames Construction and HNTB Companies. Previous Ames Construction projects include initial construction at DIA, DIA taxiways, Highway 285 improvements and many other highway, railroad and airport construction projects across the country. HNTB may be best known in Colorado for its engineering of I-70 through Glenwood Canyon.

In addition, the engineering consulting firm of Sellards & Grigg is providing construction administration and oversight. Sellards & Grigg is a local engineering and land surveying firm that has provided consulting engineer services to municipal, state and federal clients for the past 36 years.

For more information on the new highway or to submit entries for CCBID's "Name the Highway" contest, visit www.centralcityhighway.com.

$15.5 Million Workforce Housing Project Begins

On Oct. 13, Denver Mayor John Hickenhooper, City Councilwoman Judy Montero, the Denver Housing Authority and the Globeville Civic Association broke ground for 91 new housing units to be built in the Globeville neighborhood.

"This is a exciting new direction for the Denver Housing Authority," said Marge Johnson, chairperson of the DHA Board of Commissioners. "Appreciating the population growth of Denver and the need for workforce housing, DHA recognized a prime opportunity to use its existing land and resources to leverage state financing and build quality workforce housing in a neighborhood prime for public/private investment."

The site for the new housing is bounded on the north by 52nd Avenue, the east by Logan Street, the south by 51st and to the west by Sherman Street, the site of DHA's former Stapleton Homes public housing development.

Construction will begin in late October, in a $15.5 million total build-out project. The redevelopment of the eight-acre site is the first new large family development in the Globeville neighborhood in more than a decade. It will introduce for-sale and rental units tailored to meet today's demand for workforce housing.

The redevelopment of the new Townhomes at Globeville will also introduce open space; walkable, pedestrian friendly tree-lined streets and an architectural style that takes its cue from the neighborhood and Denver's residential design elements.

The project will be developed in two phases. Phase I will include 41 rental units in two- and three-story buildings, 10 for-sale units and two model units. Phase II will include an additional 27 rental units and 11 for-sale units.

The new townhomes in Globeville will have two- and three-bedroom units to meet the needs of families, with the size of the homes ranging from 993 sq ft to 1,325 sq ft. The tax-credit units and market rate units will have rental prices ranging from $585 to $850 with for-sale units from $165,000 to $195,000.