A ceremonial groundbreaking for the Residences at Olde Town Station — a mixed-use development located at the intersection of 56th Avenue and Wadsworth Bypass — was held on Oct. 20. Construction …
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A ceremonial groundbreaking for the Residences at Olde Town Station — a mixed-use development located at the intersection of 56th Avenue and Wadsworth Bypass — was held on Oct. 20. Construction is expected to begin soon with an eye towards a late 2023 ribbon cutting.
The project is known for its association with the ‘$30 Land Deal,’ a reference to the price that developer Trammell Crow paid the Arvada Urban Renewal Authority for the nine acres of land, which was valued at $6 million by the Jefferson County Assessor in 2020.
The development will include a six-story building with 252 apartment units and a parking garage, a 128-room hotel and approximately 15,000 square feet of retail space.
Representatives from Trammell Crow, AURA and the Arvada city team were in attendance at the groundbreaking, and Trammell Crow Senior Managing Director Bill Mosher, Arvada Mayor Marc Williams, RTD District L Director Shelley Cook and AURA Executive Director Maureen Phair gave speeches before the dirt was shoveled.
In his remarks, Williams alluded to the years of legal wrangling that occurred before the deal was finalized on Sept. 24. That wrangling included a citizen action group called Arvada For All the People suing the city after council approved a revised proposal for the development shortly after voting down the initial proposal.
The Jefferson County District Court ruled against Arvada for All the People in March 2019, but the Colorado Court of Appeals did later rule that the city had misinterpreted its own code when it chose to rehear the plan.
“I want to welcome Trammell Crow and High Street Residential to Arvada. It has been a long and crazy road that we’ve been on together,” said Williams.
“I think on my tombstone it’ll say ‘$30 Land Deal.’ It was the best damn $30 deal the City of Arvada has ever done, because this project is going to generate millions of tax dollars for the city of Arvada,” Williams continued. “It’s going to bring residents to the City of Arvada, it’s going to be an asset for decades and decades to come.”
Williams also praised city council’s handling of the project within the context of the Olde Town Transit Hub, stating that despite its detractors, he felt the mixed-use development would be the best use for the land.
“This project wouldn’t be here if not for the Olde Town Transit Hub. The Arvada City Council had the foresight to say, `wait a minute, this is under RTD’s original plan, this was going to be one big parking lot,’” said Williams. “And that wasn’t the highest and best use for this site. And your city council recognized that.
“So we said, ‘you know what, why don’t we put the transit hub over there, build it into the side of the hill, maintain the grand views, and open up this site for development,’ which is exactly what happened, and it’s a better use for both sites,” Williams continued.
Mosher praised that partnership between AURA, the city team and Trammell Crow for seeing the project through despite the number of obstacles.
“We managed to get things done in a way that served the interest of the Urban Renewal Authority as well as us, and that’s how you balance these out. I’m really pleased that the Urban Renewal Authority is not only our partner today, but will be for many years,” said Mosher.
“Also, to Mayor Williams and city council, we’ve been with you many times and it’s really nice to stand here with you in this setting, versus some of the other settings we’ve been in over the years,” Mosher continued.
Phair echoed Mosher’s sentiments and thanked him for seeing through the approval of the project.
“There has been challenge after challenge after challenge which I’m not going to go into,” said Phair. “I just want to say how remarkable the partnership has been with Trammell Crow. They stayed with us thru all those and I have to give full credit to Bill Mosher.”
Phair said last month that she expected the project to be completed by December 2023.
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