(For more retail coverage, click GlobeSt.com/RETAIL.)
FREDERICK, CO-Frederick, a small town north of Denver in Weld County, is poised to get a mammoth retail center. Chicago-based retail developer Landmark Properties is planning a 900,000-sf to 1.3-million-sf retail center on 100 acres at the northwest corner of Interstate 25 and State Highway 52.
The development, called Frederick Town Center, will serve the residential growth along the north Front Range of Southwest Weld County, commonly known as the Tri-Town area. It is also a critical step in meeting the goals of Frederick's draft 2006 comprehensive plan, which calls for the creation of a fully integrated town with housing, jobs, recreation, industry and services.
Frederick Town Center will cater to current demand of day-to-day and upscale consumers of the Tri-Town area and is expected to draw shoppers from as far away as east Boulder. Visitors will find a vast array of shopping, eating and entertainment options. "Frederick is a town with a rich history and an even greater potential future," says Randall Langer, principal with Landmark Properties.
Architecturally, Frederick Town Center will closely reflect the area's mining history. Timber beams, mining-themed sculpture and water elements will feature prominently throughout the site. Landmark plans to break ground on Frederick Town Center in spring 2007. The site will be developed in phases during a three- to five-year period.
No tenants have yet been signed in the development, Landmark's Maureen Versen tells GlobeSt.com. She says the company expects a lot of growth along that corridor in the coming years. "Frederick is going through bit of an awakening," Versen says. "We feel there is going to be a lot of growth in the area over the next few years. There are a lot of changes happening."
She tells GlobeSt.com that Landmark plans to have a site plan ready for the development between 60 and 90 days. "We'll be meeting with the public and they can have their say throughout the whole process," she says. "We're also working closely with the Frederick Township; we see this as a real partnership."
She says Landmark hopes to close on the property in June or July and break ground on the first late this fall "I would say it is going to be more of a lifestyle center than a power center," she tells GlobeSt.com. "It will be an open-air development, but we're not sure at this time whether we will make it more of an entertainment or department-store type of a development."
Versen says Landmark is well aware of a number of large retail developments under way or on the drawing board along the northern corridor. "There is a lot of competition," she says. "This is one of the healthiest growth areas, but I think there is enough business for everybody. And I think we will be able to set ourselves apart from the competition." She tells GlobeSt.com it is too early to estimate the value of the completed development.
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