Just "round the Corner
Edwards Corner, the $16 million commercial center being built at Edwards’ busiest intersection, will be ready by the end of October, developer Rick Mueller said Thursday.
“Construction is right on schedule, and so is the budget,” said Mueller, of Remonov and Company in Edwards, developers of the 54,000-square-foot retail and office center. The total construction time is expected to be 11 months.
“The leasing is on schedule, too,” he added.
About 53 percent of the retail and office space is under lease agreements, Mueller said.
“We also got interest for another 22 percent of the space, but they haven’t signed up yet,” he said.
Two-thirds of the space already leased is for retail; the other third will be for office space, he said.
“We will pick up another 20 percent in the next three months,” Mueller said. “We’ll probably get to 90 percent by the end of October.”
The rental price for retail space runs from $25 to $29 per square foot.
“That’s very competitive,” said Mueller, who in the late 1990s also developed both the 94,000-square-foot Edwards Village Center and the 80,000-square-foot Edwards Commercial Park. “For down in Edwards, we are at or below the market price.”
Tracy Bossow, a broker associate for Prudential Gore Range Properties in Vail, said Edwards Corner lease prices seem competitive. In Vail Village and Lionshead, where there are 24 spaces commercial available, lease prices range from $24 to $82 per square foot, depending on the location, Bossow said.
In Avon, Bossow said, there are 27 commercial spots available, with lease prices ranging from $19 to $25 per square foot.
“The availability we have now isn’t huge; it’s pretty normal considering our economic situation,” she said.
The new stucco and brick building at Edwards Corner has been designed with a combination of old and modern elements that include heated sidewalks.
“There will be almost no maintenance,” Mueller said. “We tried to make it as much as we could consumer- and tenant-friendly. There will be plenty of underground parking for tenants and employees, so customers can park at the front door.”
In addition to the 54,000-square-foot retail and office space, there will be a 43,000-square-foot parking lot underground for a total of 230 parking spaces.
“We should have most of the parking space in the county,” Mueller said. “The county requires one space for every 300 square feet. We have one for every 200 (square feet).”
Access to Edwards Corner is planned from both U.S. Highway 6 and from Edwards Village Boulevard.
“I expect the center to generate about 3 percent of the traffic that goes through the intersection,” Mueller said.
Eagle County commissioners approved the project with the condition Mueller align the Edwards Village Boulevard entrance to that of the Edwards Village Center at the Gore Range Brewery, as recommended by county engineers.
Who will be there
It took Mueller nine years and several hearings with county officials to get his project approved. He said he’s glad to see it more than half done.
“I try to get a mix of businesses, so everybody can work well,” Mueller said. “I also have interested people for a 5,000-square-foot deli, for another doctor’s office, a mortgage office and an art gallery.”
Businesses already leasing space at Edwards Corner include:
– A home accessories store.
– Colorado Business Bank.
– A jeweler.
– A steak and seafood restaurant and bar.
– An L.A.-style bar.
– An electronic store.
– A real estate company.
– A doctor’s office.
– A sandwich shop.
“About 30 people called to put a fast food restaurant, but I said “no’,” Mueller said. “I don’t want to get too much food. That doesn’t help the retailers.”
Backups surround the Corner
It could be the end of July before traffic backups at Edwards’ main intersection come to an end, county officials said Thursday.
Eagle County and the Colorado Department of Transportation are working to improve pedestrian accessibility and operations at the junction of U.S. Highway 6 and the Edwards Spur Road.
Transportation department crews already have installed new traffic signals and removed the median islands. What is left is to overlay the intersection with asphalt and apply new markings.
“We’re making it more pedestrian-friendly,” said Helen Migchelbrink, Eagle County engineer. “The new signals are configured to give pedestrians a protected crossing when they activate the pedestrian push-button.”
It’s all temporary, anyway, pending development of a long-term improvement plan for the intersection, Migchelbrink said.
“The project will improve traffic-signal timing and traffic flow through Edwards,” she said.
Much of the new signal construction work is outside of the traffic lanes and will not directly impact motorists. Traffic backups are caused by the removal of the old signal and islands. The asphalt overlay and striping could cause some further delays, but for no more than a day, Migchelbrink said.
“With all the action and growth in Edwards, the county felt it was important to improve the flow for pedestrians and motorists,” said Eagle County Commissioner Tom Stone. “We’re very pleased CDOT agreed and teamed up with us on the improvements.”
Veronica Whitney can be reached at 949-0555, ext. 454, or at email@example.com.