Community meeting scheduled on Louisville’s Phillips 66 site development plans 

LOUISVILLE — A Denver developer will hold a public meeting this month to provide information and solicit community feedback on plans to develop the Phillips 66 property in Louisville along U.S. Highway 36 near Northwest Parkway.

Real estate investment and development firm Brue Baukol Capital Partners, which has submitted development plans to Louisville city officials, will host the event from 6 p.m. to 8 p.m. Monday, Aug. 19, at the Louisville Recreation and Senior Center, 900 Via Appia Way.

The company’s preliminary plans call for a massive new mixed-use development featuring a corporate headquarters campus, a senior living community, hotels and several million square feet of commercial and office space.

“The agenda for the first community meeting will include an introduction to the project team, overview of existing conditions and zoning, review of the application process, and breakout sessions to obtain citizen input on several key areas: open space, mobility/transportation and uses for the mixed-use subareas,” according to a news release announcing the event.

The dormant 430-acre Phillips 66 parcel, formerly home to Storage Technology Corp. and Sun Microsystems Inc. facilities, has long been the source of redevelopment speculations. 

ConocoPhillips (NYSE: COP) bought the land in 2008 for $55.6 million, planning to build a world-class research and training campus focusing on sustainable energy that was expected to create 7,000 jobs. Soon after, Phillips 66 (NYSE: PSX) was spun off into an independent company, which inherited the Louisville project but never moved forward, although the site had been cleared.

In June 2017, Phillips 66 entered into an agreement to “sell land in Louisville to a land development company,” according to documents filed that August with the U.S. Securities and Exchange Commission. The filing stated that Phillips 66 was banking on a price of $50 million and expected to close the sale in the first quarter of 2018. That purchase never occurred.

Bancroft Capital reportedly had the property under contract in 2018, but the deal fell through, and the property was back on the market later that year.

The Phillips 66 land was one of the sites submitted by Colorado for the Amazon HQ2 project. Amazon eventually chose Virginia as the site of the new headquarters.

Brue Baukol’s development plans for the site are tentatively scheduled to be reviewed by Louisville’s Planning Commission in September.

on Facebook on LinkedIn