HomeMy WebLinkAboutHELLENIC PLAZA - MAJOR AMENDMENT - 41-08 - MEDIA -Developer sets sights on more -~ident housing I coloradoan.com I The C-'oradoan,
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"We've seen the slowdown from the national retailers and that's opened up
"2009 Diet Of
some opportunity for the regional/local retailers, but at the same time, they
The Year."
are being very cautious about their movements," Heckel said.
Finally, A Diet That
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Unlike South College Avenue, which is suffering from numerous large and
Seen On CNN, NBC,
small vacancies such as the Toys "R" Us and Linens'n Things buildings,
...
campus neighborhoods are more insulated because of the student
population, but commercial lease space is staying on the market longer,
Heckel said.
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Newfit
LostlnParadise wrote:
We should ask all the city council candidates if they will support a sales tax increase,
and require their answer in writing, though even then, I am sure they will claim
"unforeseen circumstances" when they later change their position. At the current
spending levels, and falling revenue, they will have to increase the sales tax,
especially while our average incomes and spending continue to decline. Government
in action!
1/6/2009 10:42:42 AM
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LostlnParadise wrote:
Just looking around to the high vacancy of commercial space and that location is
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1 /6/2009
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PI
Developer sets sights on more student housing
Hellenic Plaza might see less retail space
BY PAT FERRIER " PATFERRIER@ COLORADOAN.COM • JANUARY 6, 2009
Read Comments(2) Recommend (1) Print this page E-mail this article Share
prcturoject onn Sou
pr archi Sou
Hellenic Plaza, 635 S. Shields St., wants to provide more student -oriented apartments in a residential/retail
proposal approved last year.
The city's plane
Hellenic Plaza'
AD VERT IS E M E N T Barbara Siek, who developed and built the Clock Towers on CSU's fraternity and sorority
chambers, 30C
row, won approval last year for a three-story L-shaped building with nine retail spots and
39 apartments at the intersection of South Shields and Birch streets.
RELATED NE'
Colorado Stal
Now she wants to reduce the retail space to two and increase apartments to 46 two -bedroom, two-
Student Sock
bathroom units.
Tau Kappa El
South College
Siek has named the property Hellenic Plaza because it sits among the Greek houses near campus.
Fraternities
Siek razed the Tau Kappa Epsilon fraternity house across from Colorado State University to make way for
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the apartments.
She said the economy is dictating the retail/residential switch.
"Just looking around to the high vacancy of commercial space and that location is not particularly No. 1 as
far as ... commercial," Siek said.
Rents will be in the $800 range, she said.
Vacancy rates for commercial property at the end of the third quarter hovered just under 9 percent in Fort
Collins - and more than 10 percent for South College from Prospect Road south, said Nate Heckel of
Realtec Commercial Real Estate Services in Fort Collins.
http://www.coloradoan.com/article/20090106BUSINESS/901060309/1046/business 1/6/2009