Grand Junction, CO (March 27, 2019) – Downtown Grand Junction is about to get a lot busier on the east side of Main Street. Downtown Grand Junction has partnered with Kaart Group, LLC for the development of 734 and 702 Main, which have sat vacant for over a decade. The Downtown GJ Board authorized a loan of $500,000 to Kaart Group, LLC for the development of the lots. The Downtown Development Authority board agreed to loan Young $500,000 for his projects at a 2 percent interest rate. The loan can be forgiven if Young hits certain milestones on time.
Kaart recently purchased the vacant lot at 734 Main St. and plans to build a four-story office building on it. Two of the floors will be occupied by Kaart, a geographic information mapping company that maps road infrastructure for companies as OpenStreetMap. Kaart is also under contract to purchase the lot at 702 Main St. at the northeast corner of Seventh and Main streets, a lot that has sat vacant for years as Grand Junction slowly climbed out of the recession. Kaart is set to close on the property in April and plans to build a 6-8 story building on that lot. Kaart is also responsible for the building at 750 Main St., which serves as the headquarters for Kaart and is home to a variety of businesses.
“The Downtown Board saw the benefit of helping move this project forward,” Downtown Director Brandon Stam said. “It’s a catalytic project. This hits a lot of different boxes for us.”