Quote:
Originally Posted by bunt_q
This is the important part - now that they've given up on using a master developer, the site plan basically means nothing. I lay you odds, the City will take whatever they can get, even if it means sacrificing some of the coordinated vision. http://www.downtownwestminster.us/Ne...velopment.aspx
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I have been fearful of this exact same thing for a long time now. Though each new announcement surprises me and makes me quite happy. For a while there they were planning to hand the whole site over to a master developer (as in every other lifestyle center), and ultimately walked away from the table with developer OliverMcMillan, reportedly because they wanted to dramatically alter the site plan to include fewer streets and more parking (go figure...).
The latest reports are that the city is
moving forward with the construction of many of the streets in the master plan this summer, complete with drainage, telecommunications, electrical infrastructure, etc. And they aren't just doing so in the areas where this developer has been announced, but on nearly every planned street on the site. Once this infrastructure is in, it will make it MUCH more difficult to alter the overall site plan. They also passed the "downtown specific plan" as a city ordinance, meaning that the site plan carries the force of law and acts as a "form based code" for that part of town (regulating things like setbacks and location of parking, as done in Denver).
That's not to say that the plan couldn't be changed of course if the economics don't work out, but the city seems pretty committed to that site plan right now, and the fact that they are finding developers actually interested in developing on a block-by-block basis is encouraging. I think the biggest change that developers could demand is the block-by-block density. I think it's likely that some of these blocks will end up as Texas-doughnuts with more surface parking in the center (as seen at Stapleton or north of the Med. Center in Aurora) rather than using a parking garage with a smaller footprint, and more built-out square footage, as they are illustrating.