One Boulder Plaza brings new condos downtown

BOULDER ? Construction is slated to begin sometime this summer on a mixed-use commercial and residential development, including 30 condominiums, on Canyon Boulevard between 13th and 14th streets.

The development will be the largest residential unit in the Boulder downtown business district, said Peter Pollack, director of Boulder’s planning department. The project now is being reviewed by the city.

The 95,000-square-foot, four-story building, called One Boulder Plaza, will include 70,000 square feet of residential and 25,000 square feet of commercial space, said Jerry Lee, a general partner in Boulder Plaza LLC, the owner of the property. Other partners are Bill Reynolds, Paul Ecklund and Art Kelton Jr.

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The first floor of the building, which will be 20,000 square feet of commercial space, will be leased by Bank One, Lee said. The bank will move from its present location at 1800 Broadway.

The second floor will be a combination of commercial and residential space, and the third and fourth floors will be residential units, Lee said.

The residential development will consist of 30 one-, two- and three-bedroom condominiums, he said. Because 20 percent of the units are required by the city to be permanently affordable, 10 percent, or three units, will be permanently affordable, said Bill Reynolds. Boulder Plaza LLC, which called itself Vail Lizard 1313 LCC when the project began, is opting to give the city cash in-lieu for the other three units, he said. Boulder Plaza LLC still is figuring out how much the affordable units will sell for according to city formulas, Reynolds said. It will cost the Boulder Plaza LLC quite a bit of money to build the affordable units, he said, and this cost will be added to the other units.

The building will reflect the design of downtown Boulder, Lee said. The architects will be Downing, Thorpe & James and Communication Arts, both of Boulder, and the contractor will be Wyatt Construction, also of Boulder.

The idea for a mixed-use development came from the city’s goals of bringing residential units downtown, Lee said. He has talked to businesses downtown and said they are excited to have more residential units coming to the area. “There will be more people to go to restaurants, entertainment and shops,” he said.DENVER DEAL: Income Property Specialists (IPS), a commercial real estate firm headquartered in Boulder, has acquired the commercial properties of Streetcar Stables at 17th and Wyncoop streets in Denver.

The Streetcar Stables location has more than 22,000 square feet of space. Tenants include Morton’s of Chicago, Senorita’s Cantina, Paradise Cleaners, Trios Enoteca and The Parlour. Streetcar Stables is the first acquisition in 2001 by IPS. In the year 2000, IPS was involved in the sale and acquisition of more than $30 million in property transactions.BUNGALOWS: University of Colorado officials say 12 bungalows in Grandview Terrace are available for relocation.

As part of an agreement between CU and Historic Boulder, an opportunity exists for interested parties to relocate the houses before CU demolishes them. Anyone interested in moving one of the historic bungalows to a new location will be given $25,000 by CU. Asbestos and lead-based paint removal costs incurred by the university will be deducted from that amount.

CU is collecting and processing proposals for relocation of the houses. Historic Boulder has information available on the individual buildings, including their architectural and social history, and the organization will be available to answer questions from prospective new owners. “It is gratifying to have the support and assistance from Historic Boulder,´ said Paul Tabolt, vice chancellor of administration. “It is certainly a great example of how organizations can come together to resolve differences and reach conclusions that benefit all.”SHAKEDOWN: A New York City-based skateboard shop recently opened a store in Boulder. Shakedown Skateboards, which sells skateboards, snowboards, shoes and other accessories, has opened a shop at 1121 Broadway, near College Avenue.

The owner of the business has signed a three-year lease on the 900-square-foot space. Terry Kruegel of The Colorado Group was the listing agent and the selling agent. Terry Slyka, co-owner of Shakedown Skateboards, moved to Boulder and has placed someone in charge of running his New York location, Kruegel said. Slyka partnered with co-owner Frederick Levy, who is from the area, when he opened the Boulder store, he said.GOODBYE GAS STATION: Buyers of Rich’s Amoco at Ninth and Pearl streets plan to demolish the gas station and construct a three-story building with retail and office space and high-end residential units. Lloyd Claycomb and Steve Cherners purchased the building from Richard Messmer for $2.75 million.LOAN SECURED: John Richert and Marsha Blair of Terrix Financial Corp. have arranged a loan of $4.5 million secured by a 37,674-square-foot office building. The three-story building is located at 5480 Valmont Road in Boulder and is fully occupied by On Track, Homeseeker.com and Airbase Services. The 10-year non-recourse loan was fixed at 7.7 percent and amortized over 30 years. Proceeds were used by the borrower to pay off a construction loan.LOUISVILLENEW SENIOR CENTER: Balfour Senior Care recently received final zoning approval from the Louisville City Council to build a 150,000-square-foot independent living facility on its retirement community campus at 1855 Plaza Drive.

The development will include 103 senior-only rental apartments, including eight cottages, an indoor swimming pool and spa, secure underground parking, a wellness center, business center and library, beauty salon, a formal dining area, a café/pub, painting and woodworking areas, a card and billiard room and a large garden. The plans also call for a large reception and theater room that will be available for local civic, performing and musical groups.LONGMONTOFFICE LEASE: The State Department of Youth Corrections has leased 3,484 square feet for office space at 3997 South Valley Drive in Mead. The space is on the second floor of the building and will be used as an expansion of the State Division of Corrections’ current location in Longmont.

The lease begins March 1 and lasts for five years and four months. The real estate agent for the owner is Dick Mandile of Prudential LTM in Longmont, and the agent for the state is Dave Fryer of CPC Corporate Planners & Coordinators Inc. in Denver. General contractor is Beacon Builders of Hygiene, layout planning is being done by Tenant Planning Services of Denver, and the interior finish is being done by J.S. Designs of Littleton.NAME CHANGE: Fredrickson Marketing and Realty Inc. has changed its name to Longmont Realty. The company has been in Longmont since March 1997 and will remain at its office at 900 Coffman St., Suite D. To reach Longmont Realty, call (303) 772-7576.WOODLEY’S GOES NORTH: Woodley’s Fine Furniture, a Longmont-based furniture company with three warehouses and a retail outlet in Longmont, four stores in Denver and one in Colorado Springs, is opening another store in Fort Collins. “The Fort Collins location gives us the complete picture we’re looking for to be able to say we cover the whole Front Range from Colorado Springs to Fort Collins,´ said Luther Rasmussen, the company’s chief financial officer. The Fort Collins store will be the first one in Northern Colorado, he said, and will serve Fort Collins, Greeley, and Cheyenne and Laramie, Wyo.

The store will be at 5001 S. College Ave. and will be subleased from Front Range Electrical Supply, Rasmussen said. Front Range Electrical Supply uses 39,000 square feet in the back of the building and is leasing 30,000 square feet to Woodley’s, he said.

Front Range Electrical Supply sells lighting fixtures and is a complementary business to Woodley’s. “They were looking for someone like us,” he said.

Woodley’s Fine Furniture, which was founded in 1979, netted $36 million from all its stores last year and is expanding its warehouse in Longmont by adding 12 bays for trucks to accommodate the new store, Rasmussen said.BROOMFIELD360NETWORKS: A broadband company, 360Networks, recently leased the entire 137,000-square-foot Class A office building under construction at the Mountain View Corporate Center in Broomfield. The seven-year lease of building No. 4 at the office park is worth about $20.5 million.

360Networks has its headquarters in Vancouver, but most of its operations are in Broomfield. The company also has leased 92,000 square feet in building No. 2 at the park for a total of 229,000 square feet. With 360Network’s recent lease, Mountain View Corporate Center is 100 percent leased.

Building No. 1, which is three stories and 115,000 square feet, is being leased by GlobalCommerce. Building No. 3, which also is 115,000 square feet, is leased by Arthur Andersen, Ford Motor Credit, DeVry, XO Communications and Century 21. The lease rate is approximately $20 per square foot with an additional $7.50 to $8 per square foot in expenses. Contact Amy Stogner at (303) 440-4950 or e-mail at astogner@bcbr.com.