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NexCore Plans $20M Mixed-Use Development in Denver Foothills

GOLDEN, CO-NexCore Group LP is moving forward on a $20-million redevelopment in Downtown Golden, a city in the foothills west of Denver. The first phase of what will be known as Gateway Station will include 16,000 sf of retail and 7,500 sf of office-condominiums, topped by 34 luxury residences.

By John Rebchook | Updated on February 16, 2006

GOLDEN, CO-Denver-based NexCore Group LP plans a $20 million mixed-use development called Gateway Station on a blighted corner of the city’s Downtown core that city leaders have wanted to see redeveloped for decades. Golden is in the foothills west of Denver.

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.

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