Colorado Real Estate Journal - November 18, 2015
Downtown Louisville’s east side will be bustling with activity as a mixed-use development including townhomes, apartments, and retail and commercial space gets into full swing. DELO, short for Downtown East Louisville, is the first new sizable development to occur downtown in more than 100 years. It will be built in a single phase and will be what one of its developers calls the “most innovative community we’ve designed.” Boulder Creek Neighborhoods and RMCS Inc. teamed up to develop the approximately 14-acre project. The first of 60 low-maintenance townhomes are going vertical, with the commercial space and apartments starting this month. DELO will embody downtown living, with a woonerf, or street shared by vehicles, bikes and pedestrians, adjoining retail and restaurant space. “DELO is the culmination of all that we’ve learned. To date it is the most innovative community we’ve designed, and we couldn’t be more thrilled to partner with Boulder Creek on the townhomes within DELO,” said Justin McClure, RMCS Inc. vice president. The townhomes are part of Boulder Creek Neighborhoods’ “your-House” series, which emphasizes wider floor plans and natural light. There will be main-floor master suites and townhomes with threecar garages for storage of vehicles and outdoor gear, and outdoor spaces, including personal courtyards and terraces. Prices range from the high $500,000s to mid-$600,000s. A grand opening is slated for Nov. 14. “Being a downtown Louisville-based company, we are thrilled to be involved in a project that will have such a positive impact on the local community,” said David Sinker, president of Boulder Creek Neighborhoods. “A low-maintenance home series is a natural fit for DELO because the concept celebrates urban, walkable living. With inventories notoriously tight in downtown Louisville, we’re very pleased to bring a new housing option that’s been specifically designed to enhance the charms of Louisville.” DELO will incorporate a 1.18-acre central park called Nawatny Greenway; the South Street gateway, a 32-foot-wide lighted and landscaped walkway under the railroad tracks that links the development to the downtown core; and Caledonia Plaza, an outdoor amenity space. There will be 30,000 square feet of Class A office and retail space. A 1,500-sf restaurant space with outdoor dining along the Cannon Street Woonerf is receiving “a tremendous amount of interest,” McClure said. The Apartments at DELO will consist of 130 units with amenities including a fitness center, dog wash, bicycle repair area and kitchen area that faces out onto the Cannon Street Woonerf. “It’s a beautifully designed amenity space for an urban environment. The whole space is designed to open up to the street scene,” McClure said. Prior to DELO’s approval, the land that will house the development hadn’t been platted since 1895, according to McClure. Other News The Trade Desk Inc. leased 13,000 square feet of office space at PearlWest in Boulder, bringing preleasing in the project to more than 80 percent. The company provides technology for advertisers and agencies to manage display, social, mobile and video advertising campaigns.“Boulder is a magnet for talent in technology, and we’ve been proud to grow our team here,” said Mike Davis, The Trade Desk’s vice president of innovation, who leads the company’s Boulder operations. “We are excited to expand at PearlWest and to support the strong tech community here in downtown Boulder.” Led by Denver-based Nichols Partnership and Lynda Gibbons of Gibbons-White, PearlWest is a 160,000-sf office and retail building at 1048 Pearl St. Scheduled for completion in March, the project includes a community rooftop plaza and underground automated parking. The developers are seeking LEED Platinum certification. “The Trade Desk is exactly the type of cutting-edge technology company that is leasing at PearlWest and we are thrilled to welcome this new tenant,” said Gibbons. “There is a growing demand for premium space from technology companies in the heart of Boulder and PearlWest fits that niche perfectly with wide-open floor plans, high-speed connectivity and spectacular views of the Flatirons.” PearlWest has three retail spaces from 1,200 to 2,200 sf remaining, along with an approximately 6,000-sf flagship corner location on the Pearl Street Mall. There also is a 3,800-sf restaurant space. Mooyah Burgers Fries and Shakes and PizzaRev Craft Your Own Pizza recently leased space at Lafayette Crossings retail center at the corner of U.S. Highway 287 and South Boulder Road in Lafayette. The tenants are expected to open in spring. Armstrong Capital Development LLCis the landlord. NewMark Merrill Mountain States announced the first five tenants at Village at the Peaks in Longmont will open this month. They are Regal Cinemas, Wyatt’s Wine and Spirits, Sports Authority, Gold’s Gym and Ripple Effect. Additional openings are slated for later this year and early 2016. Whole Foods will open in late January. Located at Hover Road and Ken Pratt Boulevard, Village at the Peaks is almost 85 percent leased with 25 retailers, restaurants and services. It represents a nearly $90 million investment in the community.