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Westminster Mall has a developer

Highlights:

  • Developer chosen to redevelop Westminster Mall site.
  • City took it over in 2011.
  • San Diego firm the new developer.

 

A conceptual image of what could happen at the former Westminster Mall site.

A conceptual image of what could happen at the former Westminster Mall site.

At long last, the former Westminster Mall has a developer.


It is San Diego-based OliverMcMillan.
The firm has designed and developed more than 8 million square feet with a total value exceeding $3 billion. OliverMcMillan currently has about $2 billion in real estate projects under development in cities across the U.S., including Houston, Dallas, San Diego, Honolulu, Atlanta and Phoenix.
On Wednesday, the City of Westminster and the Westminster Economic Development Authority announced they are entering into an exclusive agreement for the redevelopment of the 105-acre site of the former Westminster Mall at U.S. 36 and Sheridan Boulevard.
As the predominant land owner and master planner, WEDA has established the framework for the site’s master plan, which contemplates multiple phases of development.
The Westminster Mall opened in 1977, but by 2009 it was half empty. In 2011, it was purchased by the city.
The plan calls for a high-density, urban development with residential, commercial, retail and other uses.
The project will also have a public realm that includes large parks, a major landscaped boulevard traversing the property from north to south and a walkable/bikeable design that is pedestrian friendly. City Council approval of the official development plan is expected this fall.
“We are thrilled to announce the alliance with OliverMcMillan,” said Westminster Mayor Herb Atchison.
“This firm is exactly what we need and want for this project,” Atchison continued.
“They have extensive experience in mixed-use development, plus a great track history of sensitivity to each community’s uniqueness. With patience and our strategic actions, we have set the stage for ourselves to partner with someone just like this and it is now paying off.”
OliverMcMillan believes the site has a great deal of potential.
“This is a great site and we see an excellent opportunity to create a place that will endure into the future,” said Morgan Dene Oliver, CEO of OliverMcMillan. “The City of Westminster has shown visionary leadership in the ideas that are under consideration for the adaptive reuse of this site.”
The City of Westminster has held fast to a vision for the former mall site as a city center that would be an amenity for Westminster residents and others in the region.
“This is a firm that understands our vision, speaks our language and has the ability to help achieve our goals,” said City Manager Brent McFall.
“OliverMcMillan is recognized as one of the world’s largest and most forward-thinking mixed-use development companies,” McFall said.

Interested in buying a home in Westminster? Please visit COhomefinder.com.

Have a story idea or real estate tip? Contact John Rebchook at JRCHOOK@gmail.com. InsideRealEstateNews.com is sponsored by Universal Lending, Land Title Guarantee and 8z Real Estate. To read more articles by John Rebchook, subscribe to the Colorado Real Estate Journal.