The shopping district at Broadway and Alameda known today as Broadway Marketplace began life in the 1950s as a major warehouse and retailing operation of Montgomery Wards just north of the Merchant's Park Shopping Center, a regional mall named after the adjoining Merchant's Park sports area and home to the Denver Bears minor league baseball team. Anchored by major retailers such as Walgreens Drugs, Joslin's Department Store, and Montgomery Wards, the center was an asset to the surrounding neighborhoods for more than 25 years. But by the early 1980's retail shopping patterns had shifted and the entire site was neglected and largely vacant. A private attempt at redeveloping the shopping center was undertaken in the mid-1980s but that project also failed. The vacant Montgomery Wards building was plagued by several incidents of arson, and the impact of the abandoned property was increasingly detrimental to the surrounding community.
In order to redress the degrading situation, DURA issued a request for proposals from developers in 1992 and subsequently selected Antonoff Miller Properties to redevelop the site. In 1993, DURA provided acquisition assistance to the developer and issued $16.7 million in TIF bonds to assist with the $44 million redevelopment of the blighted area into Broadway Marketplace, a 420,000 square foot retail center now home to Albertson's, Sam's Club, Office Max, Pep Boys, K Mart and several restaurants. In addition, DURA provided relocation assistance to numerous residents and businesses whose property was acquired as part of assembling the 42-acre site.
The redeveloped site eliminated a number of dilapidated and deteriorated structures and helped to stabilize of adjoining property values and today the site is once again providing needed retail opportunities for the surrounding neighborhoods. CF Property Management Inc. acquired the property in 2007 and in April 2009, the City approved a General Development Plan (GDP) for the site and the adjoining Denver Design District. The new GDP allows for increased density across the site and greater utilization of the nearby lightrail transit station, making way for a potential third era of redevelopment at the site in the future.
Redevelopment of the site of an abandoned Montgomery Wards building into a 42-acre retail power center with 420,000 square feet of retail space and 2,185 parking spaces.
Antonoff Miller Properties, Inc.
Total Project Cost:
$16.7 million in TIF Bonds (Net Proceeds, $12.9 million)
Tax Increment Source:
Property and Sales Taxes
May 1, 2016
Major Project Tenants:
Blue Bonnet Mexican Restaurant
Imperial Chinese Restaurant