Gateway Centre furthers mixed-use

LONGMONT ? A proposed new retail, office and residential project will add a high-end mixed-use option to Longmont, similar to what has been popular in downtown Boulder.

Gateway Centre Condominiums will fill about 35,000 square feet near the South Hover Street and Clover Basin Drive intersection in the southeast corner of Longmont. The three-story building will feature four retail/office units on the first floor, four office units on the second floor, and four third-floor residences.

Longmont business appraiser Chris Treharne is developing the project with several partners, who were not disclosed. The group formed Gateway Centre LLLP to develop the project, of which Terharne?s Gateway Centre Development LLC is the general partner. Treharne also runs Gateway Advisors LLC, which is the listing agent for the retail, office and residential units.

The four main floor office/retail spaces of 1,500 to 5,000 square feet will lease for around $19 per square foot triple net. There is also the option to purchase two of the units at approximately $172 per square foot. One of the for-sale office/retail units is already under contract.

The four office units on the second floor of 1,500 to 5,000 square feet will lease for about $18.50 per square foot triple net, with three of them available to sell at about $165 per square foot. All of offices will have access to high-speed T1 Internet. One of the available office units also is under contract.

The four residential units will be available for purchase only. All of them have three bedrooms, and the largest unit at 3,789 square feet also includes a media room study for $995,000.
The remaining units are sized at 2,705, 1,976 and 2,600 square feet. They are priced at $699,000, $499,000, $679,000, respectively. All four prices include a $55 per square foot finishing allowance (to be refunded, if not all used) and two parking spaces in a heated, basement garage. The residential units also have patios and balconies with views looking out upon Longs Peak.

Architect Hal Aavang designed the project, and Golden Triangle Construction will be the head contractor. Aavang designed the new Roosevelt Place in downtown Longmont, which also featured high-end class A office space.

?There?s not a whole lot of class A office space in the Longmont,? Treharne said, who is also a board member of the Longmont Area Economic Council. ?We think with the high tech beginning to recover , Longmont can support some more upscale mixed-use office buildings.?

The Gateway Centre project still needs final approval from the city and if all goes to plan, Treharne said he hopes to break ground in September.

Longmont Associate Planner Troy Bliss said the city is encouraging mixed-use projects such as the Gateway Centre and nearby Prospect.

?It?s a growing popular design that we?re seeing more of,? Bliss said. ?It acts as a nice transition from commercial to residential areas.?

Bliss said he thinks Gateway Centre will work well since it?s close to several new restaurants on South Hover Street and a new Key Bank. In addition, Marriott is building a new Spring Hill Suites nearby.

?Part of what we?re trying to do is have as many people live and work in the community without having to do a lot of commuting,? Treharne said.

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