Constructed in 1959, the original Alameda Square Shopping Center was Denver’s first shopping mall development. Over time, the approximately 20-acre site attracted key tenants including one of metro Denver’s oldest King Soopers’ locations, Woolworths, Recreational Equipment Inc. (REI), and the Organ Grinder Restaurant. During the economic hardships of the mid 1980s, the then-owner of the site lost control of more than half of the property due to foreclosure. Two additional owners emerged, fragmenting the ownership into three distinct groups. By 1989, King Soopers had closed and many of the nearly 30 additional retailers ceased operations at the site.
In November of 1991, the Denver City Council and DURA approved the Alameda Square Urban Renewal Plan to address the underutilized site and resultant lack of retail services available to the surrounding neighborhoods. Multiple attempts were made to attract viable redevelopment projects, including a headquarters location for the Denver Department of Social Services, a grocery anchored retail center, a Level 3 Communications telecom center, a Wal-Mart, and other mixed use retail centers. Despite these efforts, the site remained blighted and undeveloped for more than 15 years from the date the Urban Renewal Area was established.
In 2008, Brighton Corporation (“Brighton”) acquired two distinct ownership parcels within the Urban Renewal Area resulting in a land assemblage of more than 17 acres. Brighton’s development plans include an approximately 138,000 square foot Lowe’s Home Improvement store (which opened in March 2010) on the southern portion of the site. Additionally, Brighton will rehabilitate and deliver approximately 46,000 square feet of grocery and inline retail space and a pad site of approximately 20,000 square feet fronting West Alameda Avenue.
As part of site redevelopment, many of the existing tenants have been displaced. DURA provided relocation assistance in excess of $1 million to help displaced tenants reestablish their businesses in other locations.
Through the efforts and support of the City and County of Denver, the Athmar Park Neighborhood Association, the Asian Chamber of Commerce, Brighton Corporation, and DURA the redeveloped retail center will revitalize a long-blighted site and provide viable and productive retail opportunities for the surrounding neighborhoods.
Site redevelopment is ongoing at Alameda Square, and rehabilitation of the last of the original structures is underway. This final rehabilitation is expected to be complete in Spring 2011.
Redevelopment of blighted inline retail center and vacant office building into a retail center anchored by Lowe’s Home Improvement and Pacific Ocean Supermarket. The completed project will include approximately 200,000 square feet of new and renovated retail space and 1,100 parking spaces.
Total Project Cost:
$7.3 million Developer Reimbursement
Tax Increment Source:
Sales and Property Taxes
Redevelopment Agreement expires November 5, 2016
Major Project Components:
Brighton Corporation www.brightoncorp.com