WEDA chose RED Development and CDC Real Estate Corp. to develop the 540,000-sf outdoor shopping center on 65 acres at Church Ranch Road and 36. Groundbreaking for it is scheduled for this fall with a grand opening tentatively planned for fall 2004; SullivanHayes Brokerage of Denver will provide tenant leasing.
The mixed-use development will be designed to attract high-quality retailers that can further expand the retail base of Westminster and the northwest Denver metropolitan area. RED, based in Kansas City, MO, and Scottsdale, AZ, speciaizes in outdoor, lifestyle center. Dan Lowe, partner and lead developer for RED, says Mandalay will complement retail and entertainment tenants already available in the area. This will be RED's first development in Colorado. The WEDA says the RED-CDC partnership was selected for its ability to assemble a good retail mix for the project, its experience with similar projects, its financial capabilities and its proposed contributions to the project. "We believe this is a great opportunity for a developer to showcase development along one of the most popular corridors in the metro area," says Alan Miller, special projects director for the City of Westminster. In addition to Mandalay Town Center, the site is a proposed RTD Park-N-Ride and transit station that would serve commuter rail and bus rapid transit between Denver and Boulder, and is conveniently near pedestrian trails. Project partners include Calibre Engineering of Littleton as the civil engineer and Aurora-based Ames Construction Inc., which will serves as the prime contractor for the civil portion of the work.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.