FOR IMMEDIATE RELEASE
Contact: Dominic DelPapa, 303-888-8556 or [email protected]
Denver, CO – September 21, 2012 – The developer of the site on the former University of Colorado Health Sciences Center campus announced today that he is evaluating financial restricting of the site.
The current General Development Plan approved by the Denver Planning Commission and the Colorado Boulevard Health District neighborhood organization has been presented to hundreds of neighbors at nearly a dozen public meetings over the last several months. It provides for a new urban town center of green space, restored historical buildings and a diverse mix of large format stores and local retailers. The plan has also spurred neighborhood concerns over the inclusion of a next generation Walmart store as one of the anchor retailers.
“We have a number of options available to reconfigure the financial structure and composition of the development plan,” said Jeff Fuqua, CEO of Fuqua Development. “The current design plan gives the neighbors and the whole city of Denver a vibrant retail and community gathering space that will generate millions in sales tax revenues, and as such we want to build that plan.”
The options for restructuring include finding a more creative and innovative financial structure. Fuqua’s basic commitment to a vibrant, community-centered and financially viable development plan remains and the company fully intends to proceed with the development.
“From the beginning we have taken the input of neighbors and community leaders seriously and worked to build a development that the entire city can be proud of,” said Fuqua. “Our commitment has been to build a new-urban development that is not only the best in metro Denver but among the best in the nation. That is our plan moving forward and we welcome the opportunity to continue collaborating with City Council, Mayor Hancock and the community to make it happen.”