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Dierking, manager of Circle D Companies, and Loftus, owner of Loftus Developments, formed Armory Redevelopment Partners LLC in 2009 to purchase the property, but held off because of the sagging economy. Dierking said they now have the property under contract but don’t expect to close on the sale until mid-2015.
Dierking and Loftus want to divide the property of the North Boulder Armory project into four blocks. They would develop the two blocks fronting Broadway for mixed use, and they would offer for sale to home builders the two blocks to the east adjacent to the Holiday Neighborhood. The property has split zoning – mixed use and residential.
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Dierking, an attorney and an owner of law firm Packard and Dierking LLC,
envisions a portion of the development fronting Broadway to have an arts pavilion, outdoor plaza and affordable housing for artists. It also will have space for restaurants, retail and loftstyle living.
The iconic Armory mess hall would be preserved, but other smaller buildings would be demolished.
Dierking said he has received letters of interest from Oskar Blues to construct a brew pub and Comida to open a cantina. He also has a letter of interest from a group that wants to operate a small general store.