Tattered Cover Bookstore is starting off 2021 with a renewed energy about its project in Westminster.
The company expects to open its fifth location in Downtown Westminster by late spring, early summer inside the Origin Hotel. Last year, the future of the store was uncertain until the company got new owners.
“If not for the new ownership, we probably would have abandoned the project,” said Len Vlahos, who was co-owner of Tattered Cover with his wife Kristen Gilligan. Vlahos explained that the financial impact of the pandemic on a low-margin business like theirs was devastating. Some of their other locations closed for months when the state stay-at-home order was in effect.
“In Westminster, while we were so committed to and excited about the project, it was going to break our heart, but we weren’t sure we were going to have the money to complete construction and get it open,” Vlahos said.
Vlahos and Gilligan began discussions with the city of Westminster and realtors The Laramie Company three years ago. From the start, Vlahos said they were passionate about the Westminster store, partly due to the vision for Downtown Westminster. It’s right next to the Alamo Draft House and the proposed Central Square area. Tattered Cover might be able to use Origin Hotel ballrooms for some bookstore events.
So, the project meant a lot. Vlahos and Gilligan just weren’t sure if they could move forward with it. Then, after months of discussion with Kwame Spearman and David Back, Vlahos and Gilligan sold Tattered Cover in December. For Spearman and Back, the prospective Westminster location was a big selling point.
“Len and the city of Westminster put together a fantastic deal that was an asset,” Spearman said, “We are super excited to get in and do this. We’re excited to replicate this model throughout the Denver metro area.”
Spearman is referring to Tattered Cover’s vision to expand into other parts of the metro area. For this to have been possible, Spearman said Westminster created a workable tax incentive structure.
Spearman is especially excited for the Westminster location to host events that feature local and national authors. In all, Spearman said, “Our mission is to be totally intertwined with the community.”
