Stone & Webster left the 147,000-sf building about three years ago, when it leased a class A building at Dry Creek Road and Interstate 25. That building was to be the headquarters for Denver-based TeleTech Holdings, but the giant call center company instead moved into the former headquarters building built for Tele-Communications Inc., after the cable TV company was bought by AT&T Broadband.

Zack Davidson, director of acquisitions and development for EPE and president and principal of Everest Property, tells GlobeSt.com it wanted the former Stone & Webster site solely for the land, not for the office building that it will raze. The highest and best use is a condo and retail center, he says.

Trammell Crow Co. retail broker Pat McHenry is marketing the retail portion of the development. She says the average household income within a mile radius of the site is $126,000. That is much higher than household incomes around the Park Meadows shopping center, the Cherry Creek center, Aspen Grove or FlatIron Crossing, she notes.

Also, the site has exposure along I-25, making it perfect for restaurants and stores that want high visibility, she says. Retailers will benefit from the 35,000 people who work in nearby office parks in Greenwood Plaza and the Denver Tech Center, the 4,700 people who live within a mile of the site, and the people buying the condos in the development, McHenry says.

In addition to the approximate 150,000 sf of retail, which likely will be a mix of stores new to the area and ones that already are in the metro area, preliminary plans call for more than 100 condo units. The units likely will be priced between $250 per sf and $300 per sf, according to Davidson. He is using Denver-based Klipp Colussy Jenks DuBois Architects to design the project.

The development is about 550 yards from a light rail stop being built as part of the T-Rex development along I-25. Typically, urban planners and developers consider any development within a half-mile radius around a major light rail station a transit-oriented development. Although there eventually will be developments closer to the station, Davidson tells GlobeSt.com condo buyers will easily be able to walk to the light rail station.