After receiving pushback from close by owners, the native agency slated to purchase a retail website alongside Colorado Boulevard says it gained’t search to have the positioning rezoned.
Denver-based Kentro Group, led by the Balafas brothers, says it hasn’t totally decided what it should do with the 7-acre website at 825 S. Colorado Blvd. however will work throughout the current three-story zoning.
“We’re nonetheless going to attempt to do one thing nice right here,” stated Kentro co-founder Jimmy Balafas.
King Soopers has had a retailer on the website for a half century however is shifting a mile south to a constructing Kentro is creating. The 825 S. Colorado property additionally contains three smaller retail buildings, plus a bunch of retail models linked to the grocery retailer.
Kentro will purchase the property from King Soopers’ guardian firm, Kroger, when the shop strikes, Balafas stated.
Kentro drew up plans a number of years in the past to redevelop the 825 S. Colorado property below the present zoning. Balafas stated it could doubtless match 500 flats.
On the time, Balafas stated, then-Mayor Michael Hancock’s administration inspired him to assume larger.
“They believed on the time, the outdated administration’s [Community Planning and Development Department], that that is the place density belongs,” Balafas stated.
So Kentro started speaking to neighbors about doubtlessly requesting a rezoning of the positioning. The concept was to do 12 tales on the north finish of the property, the place it’s the widest, and step all the way down to eight after which 5 tales on the southern finish.
Which may not appear that drastic in contrast with the opposite aspect of Colorado Boulevard, in Glendale metropolis limits, the place the Galleria Towers workplace advanced rises 13 tales.
However behind the property are the streets of the Belcaro neighborhood, that are lined with single-family houses. It’s Denver’s priciest neighborhood, according to the county assessor.
“There’s irony and ache right here,” Belcaro Park Householders Affiliation President Susan Livingston instructed the Denver Gazette after a gathering with Kentro final fall.
Balafas stated he anticipated pushback from these alongside Harrison Road, which is closest to the property. However he was shocked to see that even neighbors farther west, deeper into the neighborhood, have been staunchly opposed.
“We didn’t have one individual increase their hand to help us at 12 tales,” he stated.
Balafas stated he’d doubtless have gotten 700 models on the positioning with 12 tales. However the larger change, he stated, is that the rezoning would have allowed him so as to add 50,000 or 60,000 sq. ft of ground-floor retail house and create a extra distinctive mission with open house — one thing akin to the 9+Co improvement farther north on Colorado.
Working throughout the current zoning will imply a extra normal condo mission, Balafas stated. Whereas the zoning is three tales, he famous that it’s potential to get 4 if he takes benefit of Denver’s reasonably priced housing incentives.
And flats aren’t a positive factor. Balafas stated Kentro can be contemplating retaining the present procuring middle and discovering new tenants to exchange King Soopers and fill the vacant models.
Belcaro neighbors didn’t simply attend conferences. The owners affiliation even employed a lobbyist and land-use lawyer, Livingston stated in an e mail this week obtained by BusinessDen.
Balafas, who has performed quite a few initiatives in Denver, stated he’s by no means had that occur earlier than. However he stated he didn’t thoughts it, and even discovered it useful.
General, the monthslong course of was onerous, Balafas stated.
“I’m part of the group. When you don’t have any help from the group, it’s onerous to go in opposition to that,” he stated.
However with the choice made to not pursue a rezoning, Balafas stated, Kentro can push ahead on figuring out a plan for the property.
“Now we all know what field we’re working with.”
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