Prism Places, McWhinney Plan Mixed-Use Districts Near Denver
Prism Places and McWhinney are teaming up to create two separate mixed-use commercial districts totaling about 676,000 square feet across 213 acres in growing master-planned communities developed by McWhinney in the Denver suburbs. The retail and commercial space will be built in Broomfield and Loveland in northern Colorado starting next year.
Leases with an organic grocer have been signed for both developments. The stores will be 37,000 square feet each. The firms are not identifying the grocer at this time. All components of each project will be built concurrently.
Designed by Architects Orange, the first project to break ground will be Avenue South, a 364,000-square-foot district that will be the business and commercial hub for Centerra, a 3,000-acre master-planned community in Loveland. Construction is expected to begin in November 2025 and finish by March 2028. In addition to the organic grocery store, it will feature 128,000 square feet of retail, 72,000 square feet of restaurant space, 127,000 square feet of Class A office space and more than 1,750 new residential units.
READ ALSO: Why Mixed-Use Developments Are All About the Right Synergies
Center Street will total approximately 312,000 square feet and will serve as the business district for Baseline, a 1,100-acre master-planned community in Broomfield. Prism Places and McWhinney are expected to break ground on Center Street in September 2026. It is slated for completion by August 2028. The walkable commercial center will have 80,000 square feet of office space, 116,000 square feet of retail, 78,500 square feet of restaurant space and the 37,000-square-foot organic grocery store. Michael Hsu Office of Architecture will design Center Street, which is also expected to have more than 400 residential units.
The partners want to offer a curated collection of sought-after brands, culinary talent, breweries, coffee shops, fast-casual favorites, wellness, fitness and other services. They listened to each of the communities to create dynamic yet distinct commercial spaces that reflect the DNAs of both Loveland and Broomfield, Stenn Parton, founder & CEO of Prism Places said in a company statement.
“We know that being walkable to amenities, restaurants, office and retail is a huge draw for residents, so creating these thoughtfully curated mixed-use commercial centers was always part of our plan for both Centerra and Baseline,” Chad McWhinney, co-founder, chairman & CEO of Denver- and Loveland-based McWhinney, told Commercial Property Executive.
“These projects are part of creating dynamic, complete communities, fostering economic resilience and encouraging community connection. With the growth in Loveland and Broomfield, these developments will provide essential hubs in support of local economies,” he added.
Earlier partnership
McWhinney and Prism Places have previously worked together. In June 2021, the companies acquired the Foothills Mall and several single- and multi-tenant buildings in Fort Collins, Colo., for $45 million after the previous owner defaulted on a $46.6 million loan and the 63-acre property was placed in receivership, according to The Coloradoan newspaper. The group that defaulted on the mall property was comprised of affiliates of Walton Street Capital and Alberta Development Partners, the newspaper reported.
In April 2023, the partners unveiled a mixed-use redevelopment proposal for the mall. Estimated at more than $300 million, the plan includes demolishing part of the enclosed mall to construct a walkable community center featuring a 70,000-square-foot office building, at least 750 residential units with a mix of for-sale and rental options and 440,000 square feet of open-air retail and restaurant space. The proposal includes a potential brewery and a large outdoor area for community gatherings.
The post Prism Places, McWhinney Plan Mixed-Use Districts Near Denver appeared first on Commercial Property Executive.
