Swinerton In the News

Swinerton Builders Colorado: July 29, 2014

Aura Selects Buckingham Companies for Ralston Creek Development

At their July 23 meeting, the Board of the Arvada Urban Renewal Authority (AURA) selected the Buckingham Companies team as the developer for Ralston Creek North-a substantial portion of the Ralston Fields Urban Renewal Area.

At their July 23 meeting, the Board of the Arvada Urban Renewal Authority (AURA) selected the Buckingham Companies team as the developer for Ralston Creek North-a substantial portion of the Ralston Fields Urban Renewal Area.

AURA Director Maureen Phair stated, “It was a hard decision for the Board as both finalists-Loftus Development and the Buckingham Companies team-put together terrific proposals. Both development groups have extensive mixed-use experience and develop quality projects with wonderful public spaces. In the end, the Board chose to work with the Buckingham Companies team because of their project vision, integrated team approach, and overall business philosophy: they develop, own and manage their projects for the long term.”

The Ralston Fields Urban Renewal Project includes an area of Arvada once known as “the Triangle.” The southern portion of the Triangle, occupied by the aged Arvada Plaza shopping center, will be redeveloped by 2016 into a Walmart and other retail stores. Across Ralston Road to the north is the 14-acre Ralston Creek North development site, which includes the Arvada Square shopping center, Independence Plaza, and the former Safeway. These properties were a part of a once-thriving shopping and entertainment district that have become ideal sites for urban renewal.

The Buckingham Companies team’s vision for the site, as stated in their proposal, is as follows:

The creation of a mixed-use, pedestrian-scaled, urban village that acknowledges its context while also seeking to elevate it. A place that is imbued with urban vitality, creativity, inspiring design, whimsy and a stimulating public realm. The mix of uses will include a variety of residential types, restaurants, retail, a unique beer garden, a major fitness facility, a central plaza, and generous green open spaces. Uses will be both vertically mixed and horizontally mixed across the site, creating unique vibrancy, visual interest, a reason to linger, and a desirable place to call home.

The project’s urban design and street layout embrace and maximize its relationship to Ralston Central Park, forming a gateway to the newly revitalized neighborhood. This will be particularly expressed through Park Place, a new east-west street that will align with the Central Park entrance and wind through the site. This new “main street” will be a walkable, urban scaled, tree-lined street, with active first floor uses lining most of its frontage. Ralston Creek is also a significant amenity on the site that we will capitalize on, creating a generous public promenade and front door for new homes along its south side.

Dan Cohen of Urban Investment Group, who will serve as the project executive for the Buckingham Companies team, said about their selection: “Our entire team is thrilled to have been selected by AURA after such an extensive and thorough process. We are energized and excited to work in close partnership with the community, AURA, and the City to establish a shared vision for the site and to build a dynamic, mixed-use new neighborhood of Arvada.”
The Buckingham Companies team is made up of three development partners:

- Buckingham Companies: Founded in 1984, Buckingham is a full service, fully integrated real estate company that includes the development, acquisition, management and construction of a wide range of property types including multifamily, student housing and mixed-use communities. Buckingham manages nearly $1 billion of real estate assets for its own account, clients and institutional partners. Buckingham has managed more than 90 properties consisting of nearly 20 million square-feet of property and approximately 15,000 rental units nationwide. Additionally, Buckingham Foundation annually supports more than 45 nonprofit and civic organizations through philanthropic outreach in the areas of affordable housing, community and economic development, and arts and culture. (For more information, visit www.buckingham-co.com.)

- Urban Investment Group: A Boulder-based real estate investment and development firm that specializes in creating exceptional mixed-use places in urban infill locations. Dan Cohen, founder and principal, has contributed to some of the largest and most complex mixed-use projects in the nation and has substantial redevelopment expertise. Dan will serve as the lead project executive for the team.

- Larimer Associates: Larimer Associates invests in and manages a diverse portfolio of real estate and hospitality-related businesses. Well-known for their place making retail, Larimer Associates portfolio includes Larimer Square, Union Station and many neighborhood destinations. Pat McHenry, Partner in charge of Leasing and Acquisitions for Larimer Associates, will lead the retail visioning and leasing for the project.

The partnership’s consulting team is led by RNL Design, a Denver-based architecture, planning, and landscape design firm. The Arvada office of Swinerton Builders will serve as the general contractor for the project.

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