DENVER – Confluent Development, a Denver-based real estate investment and development firm, has joined the project team with Kelmore Development to deliver the only commercial development at Boulevard One, the 70-acre parcel that represents the last new neighborhood to be developed at Lowry.
Located at Lowry Blvd. and Quebec Street, the 200,000-square-foot commercial mixed-use redevelopment, designed by MCG Architecture, will consist of retail, restaurant, office and entertainment space, including a restaurant sitting on the community park across Lowry Blvd. The redevelopment will be situated on more than 5 acres, serving as the centerpiece of Lowry’s Boulevard One neighborhood. The project is planned to break ground in early 2018 with anticipated completion in early 2019. In reverence to Lowry’s sustainable development practices, the project plans to obtain LEED® certification.
Lucky’s Market, a Boulder-based natural foods grocer, will serve as the anchor tenant in the development. The 25,000-square-foot store will mark the first Denver location for the grocery store chain. Lucky’s Market has announced plans to open in Wheat Ridge in 2018, and has two stores in Boulder and one in Longmont.
“Lucky’s Market is proud to open our first store in Denver, have a bigger presence in our home state of Colorado, and bring more fresh, local and specialty foods to people in the Lowry area,” said Ben Friedland, VP of marketing for Lucky’s Market. “We are honored to be an anchor tenant at The Boulevard at Lowry and look forward to being an involved partner in this new community.”
Kelmore Development and Confluent Development have formed a joint venture to serve as the project’s co-owners and co-developers. Kelmore Development, a Centennial-based commercial real estate development, management, and investment firm, was selected to lead the 1.5-block commercial redevelopment project last year in a co-proposal with Embrey Partners, who is delivering 350 luxury apartment units covering one block immediately across from the mixed-use site.
“We are honored to co-develop this project – a projected cost of more than $45 million for the first phase – with Kelmore Development,” said Celeste Tanner, chief development officer at Confluent Development. “Lowry holds a distinct role in Denver’s history, and will be a key piece of Denver’s future growth. We’re thrilled to provide our capital resources to support the redevelopment of Lowry as one of Denver’s premier neighborhoods.”
The project will mark the only commercial development at Boulevard One, the 70-acre parcel that represents the last new neighborhood to be developed at Lowry, overseen by the Lowry Redevelopment Authority (LRA) as the master developer. The cities of Denver and Aurora established the LRA to oversee the redevelopment of the 1,800-acre mixed-use site when Lowry Air Force Base closed in 1994. Lowry’s redevelopment has received national recognition for sustainable development.
“The Boulevard at Lowry will establish itself as an essential Denver destination in the years to come,” said Bob Koontz, principal of Kelmore Development. “The mixed-use site is designed for residents and visitors to be able to dine, shop, work, and entertain, providing the much-needed commercial component for Lowry to cement its position as a thriving, vibrant neighborhood in metro Denver.”
Image courtesy of MCG Architecture.