BOULDER — Core Spaces, a Chicago-based collegiate student housing builder, plans to redevelop the Liquor Mart property in Boulder.
The company recently purchased the 1.7-acre plot at 1750 15th St. from developer W.W. Reynolds Cos. for $16.6 million.
While details about Core Spaces’ redevelopment vision are scarce, executive vice president of development Chad Matesi said in an email that the intention is to redevelop the lot with plans for a ground up, mixed-use development.
“Boulder has always been an attractive city to us and we’ve been pursuing opportunities to expand here for years,” he said. “We’re thrilled to join the community and look forward to this project.”
Whether Liquor Market factors into Core Space’s vision for the project remains unclear.
Jeff Wingert, a partner at W.W. Reynolds, told BizWest that Liquor Mart’s lease was in place when the property changed hands.
Liquor Mart owner Dick Tharp could not be reached for comment Monday. However, he told the Daily Camera last week that the store’s long-term lease remains in place.
Operations at the 32,000-square-foot Liquor Mart, which has been in business for five decades, were not disrupted when the building last sold in 2009.
Core Spaces, founded in 2010, has residential developments across the country. Many of the company’s projects are in cities that, like Boulder, are home to major universities. Those include Gainesville, Fla.; Madison, Wis.; Lexington, Ky.; and Ann Arbor, Mich.