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AURORA, CO-Locally based Alberta Development Partners, LLC, with its equity partner Pacific Coast Capital of San Francisco, completed the $33 million purchase of 301 acres at E-470 and Smoky Hill Road for the $250 million, mixed-use Southland development.

When completed, Southland will include 1.5 million sf of retail space, more than 1,100 residential units and 250,000 sf of offices.

Southlands will create more than 1,000 construction jobs and an estimated 4,000 to 5,000 full- and part-time jobs at completion.

“We are so pleased that this project is coming to fruition,” says Aurora Mayor Paul Tauer.

In addition to big box retailers, it will include town plazas, clock towers, festivals, bistro restaurants and sidewalk cafes. It also will house festivals and concerts.

The first 450,000-sf phase will open next year, Don Provost, principal of Alberta says.

He will unveil some of the first tenants on Oct. 27. They will include a 14-screen movie theater, a large bookstore, and a buying club–think Costco’s or Sam’s Club.

“The southeast quadrant of Aurora is growing rapidly and will eventually contain more housing than Highlands Ranch,” says Provost.

“(Southlands) will bring an entirely new shopping and entertainment experience not only to Aurora, but to the Denver Metro and Front Range area,” he adds.

Tauer, who will be term-limited out of office next month, couldn’t be more pleased that the groundbreaking for Southlands is happening under his watch. “Southlands represents the most exciting retail, entertainment and residential complex in the metro area,” Tauer says. “The New Urbanism and cutting edge development will allow this project to continue to be an innovative and dynamic place to live, shop and dine well into the future.”

David Larson, a partner at Legend Retail Group, will be marketing it.

“Southlands will fill a retail void that currently exists in Aurora and the southeast metro area, which is experiencing tremendous residential growth,” Larson says. “This destination will attract both regional and specialty retailers as well as entertainment and restaurant venues because of its extremely accessible location and the strong anchor tenants that Alberta has successfully secured to date.”

Alberta focuses on regional retail shopping throughout the Front Range. It has completed more than 220 projects with a total of more than four million sf with a completed value of $1.5 billion.

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