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 last September and began work on it soon after.Russell Perkins, a principal at Evergreen Devco Inc., said at present the drainage projects have been completed, as well as the required Federal Emergency Management Agency flood review. ìWe have FEMAís comments to our application, and the next step is to address those comments and resubmit them,î Perkins said. The application is then subject to another review; they are unsure if that will be the final one, he said.The reason for the ongoing relationship with FEMA is that not only did they take over the completion of the Falcon Marketplace from the previous owners, they also took over the responsibility of completing the necessary stormwater and drainage projects†that were not previously addressed, Perkins said. Evergreen Devco contracted with Drexel, Barrell & Co. in Colorado Springs; the company studied the hydrology of the area multiple times; and, they ultimately suggested creating ponds and concrete work to divert water away from Woodmen Road because of the insufficient stormwater detention design that had previously been put in place, he said.Perkins said 90% of the on-site work has been completed. The off-site work that still needs to be completed includes installing a full signal at Eastonville and Meridian roads, some widening of Meridian Road and installing two project entrances along Meridian ó one at Eastonville Road and another about halfway between Eastonville and East Woodmen roads, he said.Once FEMA gives their final approval, contractors can start pulling building permits, he said. ìWe are hopefully and conservatively targeting January/February 2022 to go vertical (begin construction) with King Soopers and the others,î Perkins said.†Discount Tire, Slim Chickens and Superstar Car Wash are current Marketplace tenants; there are several other deals in the making, but he said they cannot reveal them at this time.Perkins said any of the tenants at the marketplace can pull a building permit and start construction whenever they are ready. He said there are a few outparcel lots that are not impacted by the flood zone, and they do not have to go through the application process with FEMA.Businesses located on those lots, if they choose, can start building anytime.ìI expect two to three of the businesses will elect to go forward before King Soopers does,î Perkins said. ìIf I were forced to predict, I would say both Superstar Car Wash and Discount Tire will open by spring of next year, but neither of them have given me a forecast yet.î
