Redevelopment fuels Louisville boom
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Troy Russ, Louisville’s planning director, said “redevelopment is how Louisville will continue to evolve.”
The Downtown East Louisville, or DELO development, is a $45 million to $50 million project that includes 244 townhomes, apartments and condominiums along with 12,000 square feet of retail and office space on 9.2 acres.
(Courtesy DELO LLC)
That happens when your community is the perennial quality-of-life darling of publications such as Money magazine.
New housing is surging in the northern part of town, with three major mixed-use commercial developments about to follow. The Colorado Technology Center, dormant to new construction from 2006 through 2011, is booming with new buildings. The city is looking at ways it can revitalize parts of the McCaslin Boulevard corridor.
The CTC notwithstanding, redevelopment is the name of the game.
"Redevelopment is how Louisville will continue to evolve," Louisville planning director Troy Russ said recently.
At the forefront is the proposed Downtown East Louisville, or DELO development. The venture is a $45 million to $50 million project that includes 244 townhomes, apartments and condominiums along with 12,000 square feet of retail and office space on 9.2 acres. The irregularly shaped parcel is bordered roughly by South Street to the south, Griffith Street to the north, Cannon Street to the east and the Burlington Northern Railroad tracks to the west.
DELO will be connected to downtown via a new underpass below the railroad tracks being constructed in partnership by the city and the Regional Transportation District.
"The project would not be viable without that underpass," said Justin McClure, one of three local partners in DELO, noting that the development would otherwise be cut off from the bustling "old town" area of Louisville. "It's really that livable concept that adds to the attractiveness of the neighborhood."
McClure and partners Richard Brew and David Waldner are behind both DELO and the Steel Ranch neighborhood. McClure said the population growth in the northeast part of town fueled by Steel Ranch and Markel Homes' North End also is helping make DELO and other nearby projects viable.
Just north of DELO, the proposed Coal Creek Station is an 11-acre mixed-use project at the southwest corner of South Boulder Road and Colorado Highway 42. Much of it is on vacant land and part of it is occupied by businesses that will be redeveloped. It is slated for 30,000 square feet of retail space along with 51 townhomes and duplexes.
To the west, Center Court Village is the name of the under-construction redevelopment of the former Safeway grocery store at 707 South Boulder Road. That $31 million project will include a 28,000 square-foot Alfalfa's Market, 8,000 square feet of retail and 111 apartment units.
As the northeast corner of town fills up, attention eventually will move to McCaslin Boulevard and properties such as the 13-acre Sam's Club property. Sam's closed in 2010. The city is putting together a small area plan for the McCaslin area, from Via Appia Way to U.S. Highway 36.
"We're just starting the planning for the McCaslin area," Russ said.
One large parcel still to be developed is the 432-acre Phillips 66 property near Monarch High School that is zoned for a research campus.
But the other area already seeing plenty of action is the Colorado Tech Center in the southeast part of town. Vacant land there is still abundant, and companies looking to build flex industrial space are taking advantage. Several new buildings have been completed there or proposed in the past couple of years.
Athletic apparel maker Pearl Izumi USA Inc., already located in the business park, is building a new headquarters there. And Benjamin West International Inc., a purchaser of furniture, fixtures and equipment for the hospitality industry, is leaving Lafayette for new digs in the CTC.
Benjamin West president Alan Benjamin said the opportunity for the company to own its own space was attractive. The CTC's easy access to Denver International Airport via Northwest Parkway and close proximity to highways 36 and 93 makes it an ideal location for drawing employees from Longmont to Golden and Denver.
"It's one of the newer, better, leaner business parks," Benjamin said, "and I think that's why it has a lot of activity."
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