January 12, 2017
For Immediate Release
Downtown Development Director, Downtown Development Authority
President, REgeneration Development Strategies
Public-Private Partnership for Mixed-Use Development in Downtown Grand Junction
The Grand Junction Downtown Development Authority (DDA) and REgeneration Development have recently executed a Letter of Intent (LOI) to partner on the development of several residential and mixed-use buildings that will bring new market-rate housing options and flexible commercial space to Downtown Grand Junction.
The project is currently proposed at two sites to be built in several phases, and will include ground-floor commercial space and approximately 100 residential units, with a diverse mix of for-rent apartments, for-sale townhomes, and live-work units. The projects are located at the former White Hall Site at 6th Street and White Ave and the former R-5 High School at 310 N. 7th Street.
The Downtown Development Authority along with other partners such as the City of Grand Junction have invested in numerous projects in Downtown Grand Junction such as the Main Street Uplift, Avalon Theatre renovation, Las Colonias Amphitheater and a Downtown Parking Garage to name a few. These investments, along with other area assets, were key in REgeneration’s decision to invest in Downtown Grand Junction.
REgeneration Development has been working closely with the Grand Junction DDA to create plans that are in alignment with the DDA’s vision for the area as articulated in the Greater Downtown Plan and the 2015 Downtown Housing Study. The re-development of the White Hall and R-5 sites will help increase downtown vibrancy by providing unique in-fill housing opportunities and spurring further private investment in Downtown Grand Junction. “The Downtown Development Authority is excited to partner in bringing this redevelopment to fruition. The R-5 and White Hall developments could serve as a catalyst for further economic growth in Grand Junction and REgeneration has the needed knowledge and vision to help drive this project forward”, stated Brandon Stam, DDA Director.
Jeremy Nelson of REgeneration Development noted that “the collaboration with the DDA staff and other local partners has been exceptional at every step. Our entire team is excited for the opportunity to work on a catalytic redevelopment project that will strengthen downtown as the heart of the community and contributes to the ongoing vitality of downtown. We think our proposed mix of studio, 1 bedroom, and 2 bedroom apartments, townhomes, and live-work units will provide new ‘downtown living’ residential choices that don’t currently exist for millennials, young families, and downsizing baby boomers. We’re not surprised to see other developers and landowners also responding to the City’s and DDA’s forward-thinking planning and infrastructure investments in downtown.”
REgeneration Development Strategies is based in Colorado and California. Local architecture firm Blythe Group + Co, whose offices are located in Downtown Grand Junction just a few blocks from both redevelopment sites, is the lead architect for both projects.