Economic Development Enewsletter August 2017

Welcome

This newsletter was designed to make it easy for developers, realtors, and real estate brokers to stay up-to-date on all the latest projects planned or currently underway in the City of Wheat Ridge. If you have questions or need additional information, please contact me directly 303-235-2806.
Steve Art, City of Wheat Ridge Economic Development Manager
City Hall photo

TIF Offers Assistance for Developers

Tax Increment Financing (TIF) has proven to be a powerful economic development tool in Wheat Ridge, transforming vacant lots into thriving residential communities and bustling retail hubs. Since 2013, Renewal Wheat Ridge (the City’s Urban Renewal Authority) has provided nearly $20 million in TIF funding to support such projects as Perrin’s Row, a community of energy efficient row homes on 38th Avenue and Depew Street, and Kipling Ridge, a busy shopping center at the southwest corner of Kipling Street and 38th Avenue anchored by a Sprouts Farmers Market. 
Other TIF projects are still in development, including a mixed-use development at West 38th Avenue and Upham Street that will include approximately 160 new market-rate apartments and 8,000 square feet of retail space. The project was approved for $2.4 million in TIF funding.  Renewal Wheat Ridge also provided $6.2 million in TIF for The Corners at Wheat Ridge at the corner of 38th and Wadsworth.  Buildings at the site have been demolished and the developer is preparing for vertical construction to begin which will include about 80,000 sq. ft. of retail and more than 230 new market-rate apartments.  Additionally, Renewal Wheat Ridge will be considering approval of two smaller TIF projects including Hacienda Colorado restaurant and a new retail building and maker-space facilities on 44th Avenue at Jellison.
Steve Art, executive director of Renewal Wheat Ridge and the City’s Economic Development Manager says the Urban Renewal Authority is getting more aggressive about using TIF for economic development efforts - even for smaller projects. “Our Board recognizes the advantages of using TIF to assist projects to fill in any missing funding gaps.  Development can be very expensive and these projects would not come to fruition without some type of public assistance,” says Art. Read more
Sprouts at Kipling Ridge
One of the projects that benefitted from TIF.
Entrepreneur Profile

Localworks

As Executive Director of Localworks, a non-profit development organization, Britta Fisher has been on the forefront of revitalizing Wheat Ridge, helping to transform the City from a sleepy enclave to a thriving community that is attractive to new residents as well as investors. Incorporated as Wheat Ridge 2020, Localworks has become a force of change, serving as catalyst for development while ensuring that the City maintains its small-town roots. Britta has led the organization since 2009 and under her tenure, the organization has leveraged millions of dollars in loans and grants to improve commercial and residential properties, and has hosted a slew of community events – from neighborhood clean-up days to cruiser rides – to build engagement among residents.
We talked to Britta about her organization and how she is working with Wheat Ridge leadership and staff to continue revitalization efforts. Read more
Development Opportunities
  • I- 70 and Ward Road: "Base Camp" Transit-Oriented Development (TOD) 54+ acres included in station area vision plan. Adjacent to Wheat Ridge  Ward Station along soon-to-open G Line. Contact Steve Art 303-235-2805 for additional details and information.
     
  • NE corner of Kipling St. and 44th Ave.: More than 12 acres fronting Kipling, recently rezoned to mixed-use commercial, located within Urban Renewal Plan area.
     
  • Clear Creek Crossing: 50+ acre project on the west side of Wheat Ridge along I-70 at Highway 58th. Restaurant and retail opportunities available.

  • Ridge at 38: Existing and new retail and office space available between Sheridan and Wadsworth Blvds.
       
  • 6990 W. 38th Avenue/Wise Development: Speculative retail building at 38th St. between Pierce St. and North High Ct. Developer seeks an equity partner and tenants.
Steve Art, Executive Director
Steve Art, Manager
sart@ci.wheatridge.co.us
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