Three Projects to Deliver 31 Acres of Commercial and Retail Space to Denver’s Central Park Community
Nine new businesses are set to join three mixed-use projects totaling 31 acres within Denver’s Central Park neighborhood. An equal partnership between Equity Ventures Commercial Development, Wall Development Group and Evergreen Development are developing the 12.8-acre Runway North project, 16-acre Runway South project, and the 2.22-acre Control Tower project.
The Runway North and Runway South projects are located at the I-70 and Central Park Boulevard interchange, which more than a quarter million cars travel through daily. The Control Tower project is located at the epicenter of the Central Park neighborhood adjacent to its historic Stapleton air traffic control tower, at the intersection of Central Park Boulevard and Martin Luther King Boulevard. The partnership has secured a total of nine businesses – across retail, restaurant, hospitality and health services – to join these projects.
These projects are anticipated to deliver in phases in 2021 and 2022. MCP Group serves as the general contractor for the projects and Tony Pierangeli and Erik Christopher of SRS Real Estate Partners serve as the brokers.
“Despite the challenges we’ve faced during the pandemic, we feel very fortunate to see how the Central Park community has come together to demonstrate resilience while maintaining focus on the opportunity ahead,” said Christopher Herndon, Denver city councilman of District 8. “We’re excited to welcome new businesses and new job opportunities to the community.”
Five businesses are slated to initially join the partnership’s Runway North project, with additional leasing opportunities available:
- Chili’s – The casual dining industry leader will lease a 5,023-square-foot building with a patio for outdoor seating.
- PNC Bank – One of the nation’s largest diversified financial services institutions will open a 2,293-square-foot branch with a drive-thru ATM.
- Raising Cane’s – The popular chicken finger brand will open a 3,467-square-foot restaurant with a patio and drive-thru.
- SCL Health Medical Group – The faith-based, nonprofit healthcare organization will open a 11,320-square-foot primary care medical facility.
- Go Church – The church has purchased land to build a 13,600-square-foot worship experience location with kids ministry.
The Runway South project, located at the southeast corner of I-70 and Central Park Boulevard, will initially welcome three businesses with additional leasing opportunities available:
- QuikTrip – One of the nation’s leading convenience and gasoline retailers purchased a 2.43-acre land parcel to deliver a 4,993-square-foot market.
- Brandt Hospitality Group – The hospitality group will own and manage a four-story Fairfield by Marriott Inn and Suites hotel featuring 106 rooms.
- Superstar Car Wash – Powered by Simoniz, the leading name in the car wash industry, the brand will occupy a 1.76-acre parcel featuring a state-of-the-art facility.
The partnership will also deliver its Control Tower project, located at the northwest corner of Central Park Boulevard and Martin Luther King Boulevard. The project is adjacent to the original Stapleton control tower from the former airport and will welcome a Natural Grocers by Vitamin Cottage plus an additional 1-acre development site for lease. The specialty retailer of natural and organic groceries, body care products, and dietary supplements will open a 13,300-square-foot store.
“The Central Park area is quickly growing to one of Denver’s most vibrant and progressive communities, seeing dynamic market activity,” said the Mark McPherson, CEO and founder of Equity Ventures Commercial Development. “With its central location between downtown Denver and DIA plus connectivity by bus, bike routes and rail, Central Park will continue to see significant growth. We look forward to bringing a dynamic mix of businesses to the area to help meet the demand for commercial activity among the community’s residents, employees and visitors alike.”
Denver’s Central Park community began its transformation 20 years ago from the former Stapleton International Airport into one of the most successful mixed-use neighborhoods in the nation. Today, Central Park is comprised of 12 neighborhoods with 33,000 residents and more than 100 retail stores and restaurants, with the highest income demographics in the Denver metropolitan area. Central Park continues to see steady growth, last year alone adding more than 1,000 new residents and selling more than 350 homes.
“Despite the difficulties that the hospitality industry has faced during the past year, we remain confident about the opportunity ahead with this project,” said Jared Schillinger, vice president of business development for Brandt Hospitality Group. “This Marriott hotel will mark one of four metro Denver planned locations within our portfolio. Central Park has established itself as a significant hub within Denver and continues to see steady growth, plus its proximity to DIA make this the ideal project for our future hotel.”
The projects build upon Evergreen’s other Central Park developments at the Eastbridge Town Center and the Shops at Beeler Park, plus the partnership’s significant development activity within the Gateway/Green Valley Ranch neighborhoods east of Central Park. Equity Ventures and Wall Development Group broke ground in February on 525 affordable and market-rate apartment units within its 34-acre Gateway Landing mixed-use development in Green Valley Ranch. Their partnership also recently developed Gateway Crossing at the northwest quadrant of Green Valley Ranch and Tower Road, featuring a mix of retail, business, financial and medical services, grocery stores and restaurants. In January, Evergreen also broke ground on its 8-acre Sprouts-anchored shopping center at the northeast corner of 56th Avenue and Tower Road, and recently sold its completed Outlook Gateway multifamily project immediately adjacent.