AURORA | A partnership between Denver-based firms Mile High Development and Koelbel and Company will spearhead an effort to overhaul the dilapidated Regatta Plaza shopping center and create a residential-commercial development on 22 acres, city officials announced May 4.
“I join my constituents in breathing a collective sigh of relief that we have finally reached this long-awaited milestone in the redevelopment of Regatta Plaza,” Molly Markert, Aurora city councilwoman and longtime proponent of redeveloping the plaza, said in a statement. “This development will be far superior to anything I imagined, and it will foster even more redevelopment and growth activity for our area.”
The Aurora Urban Renewal Authority announced their choice Monday for turning the nearly vacant plaza at Parker Road and Peoria Street into a project that will tie together the Nine-mile light rail station, huge tracts of land and the city’s push to create communities that offer residential, retail and commercial features, according to city spokeswoman Julie Patterson. Details of the plan won’t be complete until after city and community input.
The Mile High/Koelbel team was selected from a pool of three finalists tapped by AURA in October to renovate the 21.5-acre site.
Dirt will not be turned at Regatta for a number of months, however, as AURA officials still need to finalize an agreement with Mile High/Koelbel and the eventual ownership structure of the plaza is yet to be determined. Currently, the parcel is owned by four separate entities, including Key Bank and King Soopers. Both firms are guaranteed to be included in the new development, although, “the retention of existing structures and lot lines is not expected,” according to the city’s request for qualifications document for Regatta, which was issued last August. That means that Mile High/Koelbel could elect to raze the current locations of both businesses and build new ones in order accommodate a master plan.
“We believe that this site represents one of the best transit-oriented development sites in the entire FasTracks system, and look forward to working with AURA, the city and the community to share our vision for a truly dynamic mixed-use project,” George Thorn, CEO of Mile High Development said in a statement.
Mile High/Koelbel will seek community input for the project before the the planning and zoning process gets underway later this summer, according to Patterson. Thorn said that he doesn’t expect a groundbreaking before the first or second fiscal quarter of 2016.
In its Nine Mile Station Urban Renewal Plan penned last spring, the city calls for Regatta to be zoned as a mixed-use and higher density residential area, with multi-tenant structures being “the primary characteristic of the redevelopment.” The Urban Renewal Plan recommends the construction of three- or four-story residential structures, at least one small park and a pedestrian bridge that would connect any newly constructed parking structure with the RTD parking garage across the street.
“This is the front door to Aurora and this project will have a substantial impact not just on the Regatta property, but on our neighborhood and everything in this area in terms of value — assuming it’s a first-class development,” said Dick Palmer, an Aurora real estate investor whose office sits across the street from Regatta. He is also a two-decade resident of the surrounding Dam East neighborhood.
Close to 150 entities viewed the project’s request for qualifications during the month-long period the document was online last September, according to Andrea Amonick, manager of AURA and Chad Argentar, development project manager for the city. They said the city received six responses to the request for credentials, made up of two from out of state and four from Colorado.
Mile High/Koelbel beat out Dallas-based firm Catalyst Urban Development and Boulder-based Nine Mile Village TOD Partners to develop Regatta. All three firms received a $15,000 stipend from the city for their efforts in preparing a proposal, which included full financials, gap analysis, proposed ownership structure and renderings.
Denver developer McWhinney — the company most recently known for supporting the restoration of Denver Union Station — dropped out of the running to rehabilitate Regatta Plaza late last year due to an overwhelming workload.
“Aurora is a changing city, and the redevelopment of Regatta Plaza is a critical next step in that ongoing transformation,” Aurora Mayor Steve Hogan said in a statement. “This is the southern entrance to our city and a highly visible stop along the Aurora Line/I-225 Rail. The redevelopment that is to come will provide new and vibrant housing and live-work choices in a unique urban environment connected to everything.”
Congrats on another taxpayer funded private project! Glad my money is so profitable for others!!!!!!!!!
So, if we can manage to run Hoffman Heights Plaza into the ground, you’ll help there too?
I have lived in Aurora now for about 5 years. I love it! However, I have noticed that it is filled with a lot of whining, complaining residents. Perhaps, you are not aware how cities and states compete for business. It is not a LEFT or RIGHT issue when it comes creating an environment in which businesses take advantage of tax-payer dollars in order to compete, create jobs, and move a city forward.
I’m a Trained Weather Spotter, and EVERY SINGLE TIME the sirens go off, people complain. People complain they are not tested enough, they go off too much, but no one bothers to check online which has ALLLLL of the information you need to know about the sirens and their activation. People complained about FanFare, which is finally gone, now people are complaining nothing is there. You could build a free, diamond and gold geyser for people, and they would find something to complain about regarding it!
You’ve missed a bit. Isn’t Havana Gardens beautiful? It wasn’t when the previous mall owners allowed the property to fall into disrepair. Then the City stepped in to save the day for the developers. I’d like to see data just on the developers use tax break for that site. Those chain stores sure are happy though.
OTOH, you have the former Albertson’s at Mississippi & Peoria. Smaller developer took that over with almost no tax breaks. And look at the stores there (local small businesses).
Okay Debbie Downer. Would you rather the plaza just sit there even longer!? Aurora is a whopping 155 square miles. If you don’t get “what YOU want” in YOUR neighborhood, that’s what happens in large cities. You can only fix-up so much @ once. Give it a rest. You sound miserable. Move to Denver!
AURA decrees it,
You don’t think at all.
Be sure to spend money
At our shopping mall.
You’ll sleep by the tracks.
You’ll shop where we say.
We won’t let you drive,
You’ll live our way.
But, you know, sustainability or something.
And here come the boo birds who complain, while others complain that council does nothing. Gee, wonder how all these buildings, highways, and facilities were built, that enticed all these folks to move here, and make life miserable for those who came earlier. I can remember arriving here in 1951 (1st time) , back in 1952 to get married, and streets were quiet, friendly, and people even spoke to each other on street. In military, could go to church, and be invited to someone’s home for dinner. Wearing the uniform was greeted by families, and we felt like we visited family. What a change over the years? Not all for the best. Oh well, life goes on.
Frank2525, See my posts above; I can relate to your post.
Until a pedestrian crossing is built, who will use it??? Try crossing Parker to get to the light rail. Molly once again on the horse side of the cart while real issues to represent and address are always present in this mismanaged city.
Taxing Nosebleed, look at my post above. Perhaps you are unaware of how a city-manager type of government runs; The city of Aurora ranks in the top ten when it comes to economic development, healthcare, and now the housing boom. How about a little bit of optimism and positive energy…?
Read the article again. Pedestrian crosswalk was part of the article last year when they went out with invitations, and is part of this article. Too many jump on what media does put out, without reading it. If everyone would quit being English teacher, and read for information, we could advance discussions. That area has always been a traffic problem, getting into plaza, and back out with speed of vehicles in that area, and number who shop there over the years. By the way, city has not been mis-managed. Lot of folks moved here, with conflicting opinions of what they wanted, ignoring citizens here already.
WOW @ the miserable, negative people on here! This is great news! This area has honestly been such an eye sore for soooo long, but has SOOO much potential!
GO AURORA!! I love this city…if I didn’t, I would move…some of y’all that hate everything here, it’s quite easy. Find a job, accept it, pack, and move! 🙂