The Local Market Experts


South Main station commercial development back on track in Longmont

Posted on: Jan 19 18

by: admin

Despite a lack of recent activity at the South Main Station construction site in #Longmont, the long-delayed #Longmont #CRE project’s developer says it is on pace for completion in 2019.

The mixed-use project — which began with the 2015 demolition of the city’s Butterball turkey plant on Main Street and is expected to eventually include 315 apartments and 9,500 square feet of commercial space spread across five buildings — has been dogged by delays in the start of construction due to financing snags and the discovery of contaminated soil.

A public-private partnership agreement between the city and development firm 150 Main LLC has been amended twice since 2015 to give the company more time to start construction.

Yes, we have had some delays, but the project is moving forward and we plan to meet the timing as required under our development agreement” with the city, developer representative Brian Bair said in an email. “Staging has started on the site and more activity will begin soon.”

The agreement with the city stipulates the developer must complete the project within three years of Dec. 31, 2017.

Bair did not provide many details on when these Longmont commercial buildings will start to go up other than saying the first structures will be built “soon.”

He said the first residential units “are scheduled to be delivered in (the) summer (of) 2019” with completion of the $67-million project on schedule for the end of next year.

David Starnes, Longmont’s redevelopment and revitalization manager, said he met with representatives from the developer last week and “from (the city’s) side, it looks like it’s moving forward.”

The city has agreed to reimburse 150 Main LLC $1.25 million for demolition costs — half of which was paid upon the completion of demolition and half of which is due to the developer in phases when construction starts and construction is complete.

“We were given assurances that things are moving in the right direction,” Starnes said.

Starnes said once the project is finished,

“I certainly think it will be an important step toward revitalizing the area and connecting that portion of the city with the (northern part) of downtown.”

Kimberlee McKee, the Longmont Downtown Development Authority’s executive director, agreed that the development offers “a huge opportunity” to revitalize the area and “better utilize” land between First and Third avenues. This plan includes significant commercial development for Longmont.

Source: Times-Call

http://www.timescall.com/business/local-business/ci_31595066/developer-longmonts-south-main-station-track-despite-delays

 

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