Getting specific about Eagle River Station
EAGLE, Colorado Is Eagle ready for a regional retail commercial center, with its advantages and impacts?Thats the question the Eagle Town Board and Eagle Planning and Zoning Commission are facing as members proceed with the second phase of review for Eagle River Station, a commercial and residential project on the east edge of town.Hearings are under way, and are expected to continue through the coming weeks.The Eagle Valley Enterprise is offering readers basic information about this project. Greater detail on each of the issues will be offered in separate stories as the project proceeds through the review process.
Lifestyle Center shopping mall(649,000 square feet of commercial in total) One large anchor tenant, 100,000 – 200,000 square feet (For comparison, Costco in Gypsum is about 165,000 square feet; Wal-Mart in Avon is about 200,000 square feet) Five junior anchor tenants, 20,000 to 40,000 square feet (Examples of junior anchor sized stores would be Bed, Bath & Beyond, Best Buy, Office Max, Staples, REI.) Mixed use parcel 260,000 square feet of institutional space private school is proposed 431 units of multi-family homes Road improvements New Interstate 70 interchange on east end of project that connects to Highway 6- Improvements to Chambers Ave., Eby Creek Road, Highway 6 Trolley system that runs to downtown Eagle Construction schedule (if necessary approvals are obtained) Groundbreaking in fall, 2008 Opening in fall, 2009
100-acre parcel of pasture land east of Chambers Avenue in Eagle, and between Highway 6 and I-70.
Trinity RED Eagle, LLC – A partnership between local developer Vince Riggio (Trinity) and RED Development RED is based in Kansas City, Mo. and Scottsdale, Ariz., and has 200 employees. RED specializes in open-air, regional shopping centers. Has completed 16 shopping centers totaling over 9 million square feet Currently has more than 15 projects under development across the Southwest and Midwest In Colorado, RED developed the Shops at Walnut Creek in Westminster
Eagle River Station would generate $1.5 – $2 million in sales tax annually (developers estimate) Revenue sharing proposal: 25-year cost share rebate (from the town to the developer) of property and sales tax revenues generated by ERS Sales tax: 4 percent town sales tax (3 percent, off the top, would go to ERS for public improvements, 1 percent would go to the town) 1 percent public improvement fee: This additional sales tax would be dedicated to the town; but the developers want Eagle to assist in paying for public improvements of mutual benefit Cost share money will be used to pay for $37.5 million in public improvements on and around Eagle River Station.
The first step, zoning (concept) plan, was approved by the Eagle Town Board in May, 2007. Eagle River Station is now at the second step of the review process the development Plan. The Eagle Planning and Zoning Commission and Town Board are holding joint hearings. Check the town Web site at http://www.townofeagle.org for updated meeting schedules.
Eagle River Station has prompted the formation of citizens groups, both supporters and opponents. Heres what theyre saying: Supporters: Eye on Eagle: Eye on Eagle is a citizen group whose goal is to get the facts out on development-related issues in the community, including impacts on traffic, transportation, wildlife, and open space. Jay Willoughby, one of the Eye on Eagle organizers, offers the following observations in support of ERS: Eagle needs to increase its tax revenue base. The town cannot sustain itself by depending on residential property taxes and impact fees from new development. How else will Eagle generate the funds to meet the demand for infrastructure improvements? How else will the town raise funds to address increasing traffic congestion on Highway 6, Eby Creek Roundabout, and the westbound I-70 exit ramp? In addition to new tax revenues, Eagle River Station will offer new shops, restaurants and housing For more information, e-mail firstname.lastname@example.org. Opponents: Citizens for the Future of Eagle: Organized opposition is coming from the Citizens for the Future of Eagle, a citizen group that keeps an eye on local growth issues. Group spokesman Jan Rosenthal Townsend offers the following concerns about ERS as proposed: Doesnt fit with Eagles definition of small town character. Where will the employees come from? Increased impacts to existing infrastructure including traffic, water, schools, housing, and emergency services. Financial burden on taxpayers, short and long term. Negative impacts when large format retailers compete with existing small, locally owned businesses. Impacts to air, light, river, and wildlife. For more information on Citizens for the Future of Eagle, visit the Web site at citizens4eagle.com.