McWhinney Eyes $355M in Developments Along I-25

LOVELAND, CO-This northern Colorado city is getting three major developments that could bring 1.5 million sf to the Interstate 25 corridor with a completed value estimated as high as $355 million. McWhinney Enterprises is unveiling plans for a 500,000-sf to 700,000-sf lifestyle shopping center, a $200-million 115-bed advanced care hospital and a 120-room hotel and conference center in its 3,000-acre Centerra development at I-25 and US Highway 34.

“Centerra is an ideal location for new development, especially projects like these,” says Chad McWhinney, president and CEO of McWhinney Enterprises. The McWhinney family first acquired some of the land where the master-planned community is developing in the 1960s.

“We’ve always imagined that one day Centerra would be at the center of a regional market, and as time goes on we’re seeing that happen,” he adds. “With access from two major highways, Centerra is easily reached by anyone in northern Colorado, Wyoming, Nebraska, and Kansas.”

Poag & McEwen Lifestyle Centers of Memphis, TN, is McWhinney’s partner in the new lifestyle center. Poag & McEwen pioneered the lifestyle shopping concept of an open, upscale mall, heavily landscaped malls designed for upper-income shoppers with little time on their hands. Groundbreaking is expected in approximately 18 months.

“Our goal is to create high quality shops and restaurants, convenient and safe shopping, and an extremely inviting atmosphere,” says Terry McEwen, president of Poag & McEwen.

This will be its third center in Colorado. It opened Aspen Grove Lifestyle Center in Littleton about a year ago and is building another center in Briargate in Colorado Springs.

The Lifestyle Center at Centerra will be located near the northeast corner of the I-25 and US Highway 34 interchange across from a factory outlet mall recently purchased by TSG of Canada.

In addition, Poudre Valley Health Systems plans a new regional hospital and medical office building that will offer cardiac surgery, cardiology, neurosurgery, and trauma care to patients in northeastern Colorado, southern Wyoming, and southwestern Nebraska.

The hospital will have 85 to 115 beds and is expected to open in about four years.

In addition, McWhinney selected Denver-based Stonebridge Cos. to develop and manage a Marriott-affiliated hotel. The project will include a first phase of approximately 120 rooms and up to 20,000 sf of meeting and conference space.

“The business and commercial growth in northern Colorado is astounding,” says Navin Dimond, Stonebrige Companies president and chief executive officer. “We are excited to be a part of this high-quality community, and to help build the infrastructure for a great future.”

The Marriott is still in the preliminary stages of planning and development. The conference center would be built to qualify under the International Association of Conference Centers standards. The hotel plans to open in conjunction with the opening of the hospital, planned for 2006.