City could form Broomfield Town Square business improvement district

BROOMFIELD — Officials in Broomfield are scheduled to vote Tuesday on a measure that would form a business improvement district for the Broomfield Town Square project. 

A legal government entity with the authority to receive and spend millions of dollars within its boundaries, a BID “has the power to own property, impose a tax levy, and provide the following services within its boundaries: consult on planning or managing development activities; maintenance of improvements; promotion or marketing of district activity or public events; activities in support of business recruitment, management, and development; security for businesses and public areas; and snow removal or refuse collection,” according to Broomfield city memo.

The Broomfield City Council unanimously approved in 2023 a site plan for the Broomfield Town Square, an ambitious project spearheaded by a well-known developer that could transform nearly 40 acres north of West 120th Avenue and east of Main Street into a community gathering place with hundreds of new residences, tens of thousands of square feet of commercial space, restaurants and shops surrounding a publicly accessible (and potentially swimmable) lake.

The project, in the works in some form or another for a decade, is being developed in phases by Broomfield Town Square Alliance LLC, a consortium led by Joe Vostrejs, whose resume includes Denver’s Union Station and Hangar 2 mixed-use developments, and builder Milender White Inc.

“The approved site development plan allows up to 491 residential units including 12 townhomes and 479 rental apartments and anticipates up to 63,590 square feet of commercial development including a redevelopment of the former grocery store in the initial phase,” city documents show. “Significant public improvements, including a four-acre lake, plaza and walk areas, and publicly accessible parking garage are also included in Phase 1. Future phases could include up to 152 additional residential units for a total of 643 residential units and up to 187,000 square feet of total commercial uses across the property.”

If the BID is approved by Broomfield City Council, the district will take the lead on providing and/or maintaining “water services, safety protection devices and services, sanitation services, marketing, streetscape improvements, street improvements, gutters, culverts, drainage facilities, sidewalks, parking facilities, paving, lighting, grading, landscaping, storm and wastewater management facilities, and associated land acquisition and remediation,” according to Broomfield city documents. “The costs of the public improvements include the costs of design, acquisition, construction, and financing. A preliminary estimate of the costs is approximately $68 million.”

The BID will be led by a five-person board of directors, who, according to city documents, “must be eligible electors who live within the district’s boundaries or own taxable real or personal property within the district.  

The board is expected to be made up of Bryon White, Tim Fredregill, Patricia McHenry, Rod Wagner and Vostrejs, who are BTS property owners and members of the project’s development team. 

When the board votes in May to authorize debt for the BID, the limit is expected to be set at $104 million.

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