Five Welton Street Projects Win $475,000 in Planning Grants Through the Welton Design / Development Challenge
- Mar 07, 2014
Denver Mayor Michael B. Hancock and the Denver Office of Economic Development recently announced the winners of the very first Welton Design / Development Challenge, a new grant-making approach which aims to provide momentum to revitalize one of Denver’s most historic neighborhoods. The Challenge provides an opportunity to receive predevelopment funds for planning and design of commercial and mixed-use residential projects along the primary corridor of the Five Points business district.
In August 2013, Paul Washington, executive director of the Denver Office of Economic Development, said: “This challenge is a creative predevelopment strategy that will work to demonstrate the possibilities of the Welton Corridor to the larger development, investment and retail community. Through this approach, we will honor this historical neighborhood while igniting some real momentum into jobs, housing, and retail for Five Points. With its proximity to downtown, excellent transit, and historical cache, there is no reason that this important corridor can’t be the next retail and housing hot spot.”
Ten proposals were received in January and Denver’s Office of Economic Development community-based selection committee decided to fund the top five. Overall the ten applicant projects together represent $88 million of development activity which would create close to 500 jobs. The proposals feature 77,000 square feet of retail space, 63,000 square feet of office space and 277 new housing units.
The project winners were:
- The Rossonian Development, located at 2600 block of Welton: The historic hotel will be renovated, restored and complemented by new, mixed-use construction. The 192,225-square-foot project will include 64 new residential units, office space, shopping, dining and venue options. Project award: $150,000.
- Palisade Partners, located at 2460 Welton Street: Two adjacent vacant parcels will be developed into 82 apartments, 14 townhomes and over 3,000 square feet of ground-floor retail. Project award: $100,000.
- Saint Bernard Properties, located at 2950 Welton Street: A 3,115-square-foot vacant lot will be transformed into a three-story, mixed-use building which will include four apartment units. Project award: $75,000.
- The Arcade & Rosenberg’s Bagels, located at 2714 Welton Street: The historic Arcade Building will be renovated and transformed into 2,400 square feet of retail space and equal residential space on the upper floor to provide between two and four residential units. Project Award: $75,000.
- nuROOT Innovative Office Space, located at 2942-2944 Welton Street: The project will feature 4,710 square feet of office space and 2,310 square feet for a new eating/drinking establishment. Project award: $75,000.
Logo Courtesy of Denver Office of Economic Development via Facebook.