A $9.4 million project on 10.45 acres will resurrect a Northglenn lot that lost its anchor tenants more than a decade ago.
The Northglenn Urban Renewal Authority announced a deal April 4 to redevelop the Huron Center at the southwest corner of 104th Avenue and Huron Street. The authority signed agreements with developers Evergreen and Impala LLC for the redevelopment just a day before.
“This project is a great example of what urban renewal authorities can do to revitalize challenging retail areas by bringing stakeholders to the table,” Rosie Garner, chair of NURA, stated in a press release. “Thanks to a very dedicated developer and patience from our residents, the Huron Center will be transformed.”
The Albertson’s store at the location closed in July 2006 and the renewal authority has been working to get new stores in since June 2012. It began advertising for a master developer in September 2014, settling on Evergreen, according to Northglenn Economic Development Manager Debbie Tuttle.
“This has been a complex project from the beginning, but it will be worth everyone’s efforts when we see how this project will transform this property and revitalize the area,” Tuttle stated in a news release.
She said in an email that the project was complex because there were multiple owners, the buildings are older and infrastructure was outdated. Tuttle is also the authority’s executive director.
The redevelopment will include a 35,669-square-foot automotive retail facility — which will be similar to an auto parts store — and a 21,773-square-foot neighborhood grocer.
Tuttle said the authority is not yet ready to announce the name of the auto parts store or grocery store but hopes to soon.
The redevelopment will also include a newly constructed 2,400-square-foot Arby’s restaurant.
The total project is estimated at $9.4 million, which includes $7.36 million for construction plus acquisition costs, according to the release.
Construction is scheduled to start this summer. The grocer and retail automotive facility are scheduled to open by the end of 2017 and early 2018. The Arby’s restaurant is set to open in the fall of 2018.
“This is a great day for the city,” Mayor Joyce Downing said in the release. “This project will jump-start the Huron Center. These new businesses are investing in the city while bringing in products and services of value to our residents.”
Under the agreements, Evergreen will purchase the former Albertson’s/Rite-Aid building and property at 1000 W. 104th Ave. from the authority. The grocer and retail automotive facility will be located there. It will also own the new Arby’s restaurant that will be constructed next to Bank of the West.
“Evergreen is thrilled to partner with the City of Northglenn and the Northglenn Urban Renewal Authority on this tremendous project, and we look forward to redeveloping this challenged property into a vibrant, attractive shopping center that will make Northglenn proud,” Evergreen Managing Partner Tyler Carlson stated in the release.
Impala will continue to own the rest of the center, which includes the east and west wings, and the two existing restaurant buildings near 104th Avenue.
The deal included a $300,000 incentive from the authority to construct the new building and a $200,000 tax-increment financing rebate to Impala. The authority discounted the property price from its purchase price to fill the financial gap with Evergreen to redevelop the property, according to Tuttle.
Tuttle did not have any projection of sales tax or property revenue from this redevelopment upon completion.