New 177 Million Dollar Project Set To Begin Construction Next Month In Castle Rock

Dated: 12/01/2014

Views: 2508

Another example of how Castle Rock is growing! Link to the full article below...

Shopping center breaks ground

Construction on $177 million project set to begin in the next month

Posted 11/21/14

A $177 million project broke ground in Castle Rock on Nov. 17.

Alberta Development Partners will build the Promenade at Castle Rock shopping center on a 200-acre lot just off I-25 and US Highway 85.
The Promenade will house for different “districts” that will combine retail shops, restaurants and open public areas. The four districts will be: This is the gateway to the Promenade. It will feature community dining areas, a fire lounge and a “farmer’s market feeling.” This area will house pop-up cafes, pop-up retail shops and an amphitheater.
Alberta describes the space as a “modern-day trading post.” This will be the heart of the shopping center. It will have a “grand plaza feel” and have flowering trees and a water feature.
The Promenade’s restaurant row. It will feature a covered lounge, wagon wheel banquettes and a wishing well fountain. “This will be one of the largest community center developments in the United States,” said Don Provost, Alberta Development Partners principal. “We look forward to bringing some of the best retailers in the country to Castle Rock.
Construction on the 1 million-square-foot development will begin in the next month and retailers will open for business between 2015 and 2018.
Alberta purchased the property for $44 million from a local seller — one of the county’s largest suburban land acquisitions. “It’s a priority for us to bring in new amenities for our residents and give more people reason to visit our terrific town,” Castle Rock Mayor Paul Donahue said. “We’re excited this project is moving forward.”
Castle Rock will contribute up to $24.5 million, or 13.6 percent, of the total project, in shared sales tax and development fee reimbursements.

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