Loftus, Nichols propose Land Rover/Jaguar dealership as part of Broomfield development

BROOMFIELD — Boulder developer Jim Loftus and Denver developer Randy Nichols are looking to partner on a mixed-use development in Broomfield that would include relocating the Land Rover Flatirons and Sill-Terhar Jaguar car dealerships that are currently in Superior and Broomfield, respectively.

The development team went before Broomfield City Council on Tuesday for a conceptual review to gain feedback on their proposal before filing a more formal application. Loftus said Thursday that pending approvals from the city, the plan would be to break ground on the first phase of the development next summer and have the car dealerships open 10 to 12 months after that.

The development is proposed for 10.4 acres of vacant land at the intersection of the Northwest Parkway and Via Varra, just north of U.S. Highway 36. The land is part of the Parkway Circle area developed by Texas-based MI Development Corp. The area is already home to the Catania Apartments, Vantage Point Residential and a Hyatt House Hotel. A Holiday Inn Express and Audi car dealership are already under construction there as well, and two more hotels are in planning.

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An entity formed by Loftus and Nichols is under contract to buy the last available Parkway Circle land from MI Development. Seven acres sits on the south side of Via Varra and the other 3.4 acres is on the north side of Via Varra.

The first phase of the Loftus and Nichols development would cover the land on the south side of Via Varra. It would include a 33,000-square-foot building where the Land Rover and Jaguar dealerships would be co-located. The developers are also proposing a car wash, gas station and 10,000-square-foot retail building on the south side. All told, development of the south side is expected to cost $15 million.

The second phase, on the north side of Via Varra, would include another 10,000-square-foot retail building and an 8,000-square-foot restaurant building.

Car dealerships are a prohibited use in the Parkway Circle planned-unit development that MI originally got approved, meaning Loftus and Nichols would need to apply for a PUD amendment for the project. But owners of the Audi dealership received approval of a similar amendment last fall.

Loftus and Nichols have owned Land Rover Flatirons at 1500 E. Coalton Road in Superior since 2000. Sill-Terhar has owned the Jaguar dealership at 125 Alter St. in Broomfield, meanwhile, for 60 years. Sill-Terhar Motors also has Mazda, Volvo, Ford, Lincoln, Aston Martin, Lamborghini and Maserati dealerships.

The move to combine the local Land Rover and Jaguar dealerships is part of a push from India-based Tata Motors, which bought Jaguar Land Rover Ltd. from Ford Motor Co. in 2008. Loftus said only about three Land Rover or Jaguar dealerships in the western United States remain standalone.

Loftus said he and Nichols began talking with Jack Terhar about combining their dealerships a few years ago. Loftus said contract negotiations between the two have been ongoing, but that the general idea is that Terhar would sell Loftus and Nichols his Jaguar dealership once the new location is built.

Loftus said initial feedback from city council on Tuesday was generally positive, but that there was some pushback on the carwash, as well as variances the developers are seeking with relation to parking lot setbacks from the Northwest Parkway and the height of the car-dealership signs.