The first phase of Gateway Station, which is to be completed by October 2007, will include about 16,000 sf of street-level retail and restaurant space and about 7,500 sf of second floor for-sale office condominiums, topped by 34 luxury residences. The redevelopment will transform a stretch of Golden's historic Washington Avenue that has been an eyesore since Hested's Department Store vacated its building nearly three decades ago.

"The redevelopment of this site has been the No. 1 priority for Downtown Golden for more than two decades," says Mark Heller, secretary and executive director of the Golden Urban Renewal Authority "The site's great potential to positively affect the already dynamic nature of the area has finally been unlocked by an especially creative public/private partnership among NexCore, the City of Golden, the Golden Urban Renewal Authority and the Golden Civic Foundation." GURA will contribute $1.25 million for infrastructure improvements and the Civic Foundation is providing a $685,000 loan.

"A lot of other developers walked away from it," NexCore president and CEO Greg Venn says of the Gateway Station site. "But, as someone who has lived in the area for about 15 years, I have a personal interest in preserving and enhancing the historic character of Golden's Downtown." As a developer, Venn says he also sees the opportunity to make better use of the real estate through a high-quality 24-7 mixed-use redevelopment. City officials agree.