The Wal-Mart will deliver about 204,000 sf; Sam's Club, about 130,000 sf; and Home Depot, about 117,000 sf. They're anticipated to have annual sales per sf in the $275 to $300 range. The nationwide retailers are key elements to the $300-million first phase, which also will include single-family homes, apartments, offices and town center. The value of the three anchors is estimated at $40 million to $45 million.
"The new commercial and residential neighborhoods here at Stapleton will be based on smart, sustainable development that allows Denver to grow 'from within' in a pedestrian-scale community, bringing new jobs, housing, retail and open space to the citizens of northeast Denver and the entire metro area," says Webb. "Many years from now, future generations will look back at this period in our city's history and regard this as one of those critical moments in which the citizens of Denver had the vision and the resolve to make the most of an unprecedented opportunity to secure our continued place as one of the most livable cities in the nation. It is a tremendous legacy to leave our children."
Webb claims the Stapleton redevelopment is the "largest infill redevelopment in the US. Nothing is larger." The 4,700-acre site is one-third the size of Manhattan.
Al Ratner, co-chairman of the $4-billion Forest City, was on hand for the announcement of the anchors. Ratner tells GlobeSt.com he can think of no other city in the nation that has a redevelopment site of Stapleton's magnitude, prime location and built-in infrastructure. Denver already is a great city, he says, adding Forest City often is called upon to revitalize a depressed city with a gloomy economy.
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