Volume No. 18 Issue No. 4 April 2021  

  Falcon Marketplace update

     Evergreen Devco Inc., a real estate company with offices in Denver, Phoenix, Los Angeles and Salt Lake City, purchased the 36-acre Falcon Marketplace at Meridian Road and East Woodmen Road in September 2020.
   Russell Perkins, a principal with the company, said they are continuing to make progress. Currently, he said they have the following tenant categories under contract: a national brand tire store, a dentist, a chicken restaurant, an Asian cuisine restaurant, a car wash and a coffee store; they have space for at least three more tenants. “I have permission to share with you the names of the car wash (Superstar Car Wash) and the Asian restaurant (Panda Express with a drive-through),” Perkins said. At this point, everyone still has the ability to back out should they determine they no longer wish to be included in the development, he added.  
   The schedule for opening any of the businesses depends on when they are permitted to construct them, he said. “A large portion of the property lies (on paper, at least) in a flood plain,” Perkins said. “Our contractors have completed 100% of the work to alter the path of the travel of stormwater and to increase the storage capacity of the regional stormwater basins. Just last week, the surveyors and engineers concluded their work to verify completion of all of those improvements.”
   A couple of the outparcel lots are technically not encumbered by the former flood boundaries, so those tenants have the option to build as soon as they can acquire permits from the county, he said. They expect one to two of them to build as soon as possible—probably the coffee shop and car wash, Perkins said.
    “We have formally submitted the floodplain map revision request to the appropriate federal authorities. Now we wait,” he said. “Approval from the feds takes about six months during normal times. We’ve been told to expect closer to eight to 10 months, but we hope to be surprised to the good side,” Perkins said.
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