City of Boulder seeks new partner for 30th and Pearl project

BOULDER — Boulder is seeking a new partner to redevelop property at 30th and Pearl in the city. The city was unable to reach an agreement with the previous partner, Zocalo, on the joint development agreement.

The city and Zocalo mutually agreed to part ways. The city will now look for a development partner that will help create affordable rental and homeownership opportunities as well as affordable commercial space at the site.

“Canceling this agreement does not prevent us from moving forward with plans to build more affordable housing,” said Kurt Firnhaber, director of Housing and Human Services. “The city will have the opportunity to look again at alternative approaches to creating an aspirational project that meets many of the city goals. Both the city and Zocalo put great effort into fulfilling the agreement; however, it became clear that the many aspects of the agreement could not come together within the timeline.”

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Boulder will either return to a Request for Proposal process or explore options to partner with Boulder Housing Partners, the city’s housing authority. The city and BHP will continue to work with Low Income Housing Tax Credits to help fund the affordable housing on this project.

A revised timeline for the development will be determined after a new partner and development agreement is finalized, the city said.