DENVER - Locally based Westfield Development, the development arm of the Frederick Ross Co., plans to start construction in October on the first phase of Lincoln Station, a mixed-use development at the most southern stop of the T-Rex light-rail line.
Because of the proximity of the light rail, many residents and employees at Lincoln Station may not even need a car.
The developer thinks tenants will pay a premium for a new office building that is served by light rail. The first building will be a “signature” class A office building with 150,000 sf.
The first phase also will include a retail village of 30,000 sf; a smaller office building of 30,000 sf; and 80 residential units, priced from about $200 per sf to $450 per sf.
Eventually the entire development could have three million square feet of commercial space and 1,500 residential units. The developer states that they will react to market demands. If the market wants more residential, they will over-weight to residential, and if they want more office, they will over-weight the office portion. The current estimate is that it will ultimately have 800,000 square feet to one million of commercial space, and perhaps 800 for-sale and rental residential units. For info on other new developments go to www.ColoradoDreamHomes.net
No comments:
Post a Comment