wadsworth blvd., w. 56th avenue
Post on 14-Mar-2016
Embed Size (px)
DESCRIPTIONTOD AURA Project located at Wadsworth Blvd., West 56th Avenue, Arvada
Arvada Urban Renewal Authority Olde Town Arvada
Wadsworth Boulevard West & 56th Avenue
Parcel Description The 8-acre site is across the street from the future location of the Olde Town Arvada rail station and bounded to the north by the Gold Line rail. The site fronts Wadsworth Boule-vard and is bounded to the east by Vance Street. The City of Arvada plans to extend and align West 56th Avenue which will bisect the site and connect Wadsworth to Vance. The entire site is less than 0.25 miles from the future Olde Town Arvada station to be built as part of the Gold Line transit project.
Existing Uses There is one building located on the site. It is supported by its own parking and onsite infra-structure. There are also two surface parking lots. Redevelopment of the site will require relocation of the current owners or tenants, demolition of the existing improvements, and reconfiguration of the onsite infrastructure.
Zoning and Land Use The site is currently zoned PUD-BPR, which allows a range of approved business, profes-sional, and residential uses. The City of Arvada is in the process of rezoning the Olde Town area to new zone districts to implement goals of the Arvada Transit Station Plan and Olde Town Design Guidelines. The City supports updating the zoning and land use require-ments to facilitate redevelopment efforts. Entitlements are in place for the existing uses and zoning.
Other Information This is a rare redevelopment opportunity that is uniquely located on the heavily trafficked Wadsworth Boulevard corridor and across the street from the fully funded Olde Town Arvada rail station that will open in 2016. The site is also part of the Olde Town Station Urban Renewal Area. As a result, financial assistance and incentives may be available to support projects that redevelop the area and bear the burden of these costs. The site is adjacent to Olde Town Arvada which is a thriving and charming downtown environment that is on the National Register of Historic Places. The site will also contain RTD transit parking, and there may be an opportunity for a developer to construct a funded parking structure on behalf of the district.
Market Information There is strong multi-family and retail demand in the local market. This site is suitable for retail, office, multi-family, or some compatible mix of these uses.
Ownership Information City of Arvada, RTD, and Sullivan One LLC
For more information contact: Clark Walker, AURA Redevelopment Manager Phone: 720-898-7064 Email: [email protected]