Three Development Teams Look at University Hospital Site

Locally based Etkin Johnson Group, one of the most aggressive developers in the metro area, is joining with Archstone-Smith, a large apartment REIT, also based here. Archstone-Smith specializes in developing high-end apartment communities in metro areas with huge barriers to entry, while Etkin Johnson owns and has developed millions of sf of offices, retail and industrial property in the metro area.

Another developer is Koll Development Co., of Dallas, and its real estate financing partner. The Koll-AIG Project formed the Ninth and Colorado Community Alliance for the project and will be assisted by locally based Mosher Sullivan Development Partners, headed by Bill Mosher.

The final developer is Shea Properties. Shea, which took over the 22,000-acre Highlands Ranch from Mission Viejo Co., already has sent a survey to residents within a mile radius of the center.

In their first public hearing, all of the developers recently met with about 250 residents and public officials. "They were all careful not to give specifics about their projects," which are due on Jan. 30," one person who attended tells GlobeSt.com. "It was more like a dating game. They presented themselves to the neighbors for their approval."

He notes that the area is surrounded by many "bright, sophisticated people," who take an active interest in how the site is developed.

A seven-member selection committee will review the developers' proposals and choose a winner, which is expected by March 1.The redevelopment will primarily be residential, with some retail and office space.

Although it's too early to say which buildings on the site will stay and which will be developed, a large parking lot and one newer hospital building will remain. Some buildings in the interior of the site that were constructed in the 1920s, such as a Psychiatric Hospital, may be re-used. But the 500,000-sf main hospital building will likely be razed.