McWhinney, Prism to partner on Centerra South, Baseline commercial centers
LOVELAND — Loveland-based McWhinney Real Estate Services Inc. is partnering with Prism Places Inc., a commercial real estate management and investment firm, on commercial districts within two planned communities in Northern Colorado and the Boulder Valley: Centerra South in Loveland and Baseline in Broomfield.
The two companies partnered in 2021 to buy Foothills Mall in Fort Collins out of foreclosure for $45 million and announced plans in 2023 to redevelop it.
In Centerra South, the 326,000-square-foot Avenue South district is envisioned to fulfill the role as the business and commercial hub for the controversial 3,000-acre master-planned community on the eastern edge of Loveland. Designed by Orange, California-based Architects Orange, It would include 128,000 square feet of retail, 72,000 square feet of restaurant space, 127,000 square feet of Class A office space and more than 1,750 new residential units.
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According to a news release from Prism, Avenue South “has a 37,000-square foot lease signed with an organic grocer.” That grocer may be Whole Foods, which told BizWest in August that it remained committed to the project.
The Loveland City Council voted to approve urban-renewal and financing agreements for Centerra South in April and May 2023, but a newly elected council majority in November 2023 voted to rescind them. The agreements were reinstated last February after McWhinney sued the city, alleging breach of contract, but remain the target of litigation.
In the 1,100-acre Baseline master-planned community in Broomfield, which may include more than 400 residential units, Center Street is expected to serve as the business district. That 312,000-square-foot district is planned to include 80,000 square feet of office space, 116,000 square feet of retail, 37,000 square feet of grocery and 78,500 square feet of restaurant space.
Center Street, to be designed by Austin, Texas-based Michael Hsu Office of Architecture, already has a confirmed lease with an organic grocer.
According to the Prism news release, Avenue South is expected to break ground in November 2025, and Center Street is slated for groundbreaking in September 2026.
“Both Avenue South and Center Street will provide these growing communities with exciting new places to shop, eat and hang out,” Stenn Parton, Prism Places’ founder and CEO, said in a prepared statement. “At Prism, we strive to create places that communities are proud of — places that are as dynamic and unique as the communities they reside. Together, McWhinney and Prism listened to each of these communities; our mandate now is to deliver distinctive experiences that reflect the DNAs of both Loveland and Broomfield, respectively.”
Prism Places, based in Playa Vista, California, and with offices in Denver and Plano, Texas, says it has $2.5 billion in assets under management.
“Our Centerra and Baseline master-planned communities are clear examples of how collaboration and thoughtful partnership can generate smart growth and create places people love,” Chad McWhinney, CEO, chairman and co-founder of McWhinney, said in the news release. “Prism Places has proven to be a dedicated, nimble partner that understands the key role retail plays in mixed-use settings. By blending innovative commercial spaces with opportunities for connection and creativity, we’re proud to be creating districts that will ensure Centerra remains a vital hub in Northern Colorado and that Baseline further establishes itself as Colorado’s next great economic center.”
McWhinney is partnering with Prism Places on commercial districts within Centerra South in Loveland and Baseline in Broomfield.
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