Title
South Platte Crossing Update
Body
Summary & Background
Council had engaged in a Purchase and Sale Agreement with the Urban Land Conservancy to purchase10,800 square foot Unit 6 (the fifth floor) of the South Platte Crossing building located at 7190 Colorado Blvd. Staff has closed the deal and as of January 28, 2021, the city owns the property. This acquisition was the culmination of significant work by staff and council to identify the need for the space, develop a vision for it, and allocate the funds necessary to make the space a community resource. Staff last updated Council on the project in November, where Council directed staff to close on the deal and indicated it saw the space as a community investment (rather than a profitable real estate investment) to be used in collaboration with non-profit partners.
Purpose:
This communication is to inform Council of current remodel efforts underway to prepare the space for tenant occupancy, and to seek direction from Council as to how to select tenants for the space.
Remodel:
Council previously allocated $1.2M for the remodel of the property. This amount is in line with the estimate developed by the facilities team for a commercial remodel of the space. The remodel project will proceed in two phases, with an estimated completion date of the end of the year. In the first phase, facilities will ‘freshen up’ the space by installing new carpet, ceiling tiles, repairing damaged drywall, and repainting the space. The first phase will prepare the space for future use. The second phase will tailor the space for its ultimate use. Once staff has a clear idea of the type of tenants (i.e. tenants that largely engage in office work versus ones with more specialized requirements, such as a health clinic), it will begin configuring the space. This work may entail installing movable internal partitions, furnishing the space, and preparing it from an IT perspective based on staff direction.
Phase one is in progres...
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