405,000 SF of Retail Space Heads to Valley

The Miller Weingarten portion of the development will be anchored by a 120,000-sf Target and a 130,000-sf Lowe's Home Improvement Center. Bed Bath & Beyond, Gart Sports and Petco Animal Supplies, also have committed to the project. Target, Lowe's Bed Bath & Beyond and Petco are all new entries into the Roaring Fork Valley. Gart Sports is relocating from another nearby location.

The groundbreaking culminates a process that began in 1996, when Aspen-based Dunrene Group, headed by Robert Macgregor, bought the land from a California oil company. Macgregor rezoned the land and initially submitted it to the city for annexation in 2000.

Macgregor says it is a true public-private partnership. "The Glenwood Meadows development is the result of a combined effort with citizen groups, planning and zoning personnel as well as city council," Macgregor says.

"We are extremely glad to have this project under way," says Mayor Larry Emery. "This is one of the most exciting developments in the valley. It will provide Glenwood Springs with a one-of-kind retail center that will keep sales tax dollars in the city and benefit the community with a wide variety of retailers not currently represented."

A study by Denver-based Coley/Forrest Inc. projects over the next 20 years the center will generate about $1.9 billion in gross sales, generating $63.3 million to the city coffers, making it by far the largest single source of sales taxes. "Our objective is for Glenwood Meadows to serve the Glenwood Springs community and reinforce Glenwood Springs' position as the regional shopping district for the entire Roaring Fork Valley," says Steve Shoflicik, vice president and chief operating officer for Miller Weingarten, which has about 3.2 million sf of retail centers in Colorado. "We have been involved with two other shopping center developments in mountain communities, and each time the retailers have succeeded beyond their wildest dreams."

Miller Weingarten is negotiating with local, regional and national retailers for Glenwood Meadows. "We really want to create a high energy in the middle of the development where shoppers can gather with friends to shop, dine and be entertained in an inviting, pedestrian friendly development.

On adjacent land, developer Macgregor eventually plans a hotel, conference center, movie theater, live/work units, offices and about 475 housing units. "The housing will not be high-end, but for the worker bees," Macgregor tells GlobeSt.com.