Chicago firms buy major stake in S’PARK development in Boulder

BOULDER — Two Chicago firms have purchased a major stake in the redevelopment of the former Sutherlands lumber yard site at 3390 Valmont Road, effectively buying out the Sutherland family’s stake in the $100 million mixed-use “S’PARK” project that is slated for demolition work to begin in the coming months.

Real estate investment firm Kinship Capital and investment firm/developer The John Buck Co., formed a new joint venture with current S’PARK developer Element Properties of Boulder that in late December paid a combined $18.5 million for the properties at 3390 Valmont Road and 3195 Bluff St. The joint venture, under the…