Sep 2, 2020
Proposed development in Montbello and Green Valley Ranch takes inspiration
DENVER – September 2, 2020 – Today, Denver City Council’s Business, Arts, Workforce, and Aviation Committee approved a proposal for a development in the Montbello and Green Valley Ranch neighborhoods to move forward to a full Council vote on Monday, September 14, 2020.
The proposed development, dubbed the Flyway, has been advocated for by residents in northeast Denver for more than three decades. The project would include a 32-acre retail town center at the southeast corner of Green Valley Ranch and the planned Airport Boulevard just west of Pena Boulevard and east of Montbello. Included in the plans are a Costco, as the anchor retailer, along with local, regional and national retailers, and dining establishments situated around a town center.
“The opportunity that this proposal presents has been years in the making, and I couldn’t be prouder that we’re finally able to make it happen here for the residents of far northeast Denver,” Mayor Michael B. Hancock said. “This is about more than just quality, good paying jobs for the neighborhood, it’s the equity these neighborhoods deserve, and the community support these families need and have been calling for.”
“It has been a true highlight of my elected career to help residents in my community put together a proposal that will meet our goals of high-quality jobs, full service grocer and retail opportunities in our own backyard,” said Denver City Council president Stacie Gilmore, who has championed resident-led developments in her community for decades.
The inclusion of Costco is expected to bring nearly 275 quality jobs to the area. The overall development project is expected to create 400 jobs, bringing great opportunities to Denver residents. In addition, it will help to fill the food desert which has existed in the Montbello neighborhood for decades.
As proposed, the development would seek a 50 percent sales tax rebate up to $9.5 million that would come directly from the project revenues generated by the anchor retailer and is necessary in order for the development to happen.
“To say that our neighborhood has been working toward these goals for decades is no overstatement. The opportunity to have fresh food options, and high-quality jobs within reach of our community is something we wholeheartedly support,” said Ann White, Chair of Montbello 2020, an association of neighborhood businesses and nonprofits. “We believe that the city is ready to make an equitable investment in support of our neighborhood goals, as it has in so many other neighborhoods in Denver.”
Pending city approvals, buildout of the development is slated to begin in the Fall of 2021 or Spring 2022.
“Opportunities like these don’t come to Denver very often,” said Eric Hiraga, Executive Director, Denver Economic Development & Opportunity. “And we are thrilled to make such a valuable investment in this neighborhood to provide much needed amenities to this community, as well as support the city of Denver as a whole through the creation of good jobs and strengthening the city’s tax base.”
“We are really excited to bring the opportunities of this development to the neighborhood,” said Mark Goldberg, president of Goldberg Properties, and project partner. “It’s always our highest goal to align our development with the expressed needs of the community.”