Major remodel proposed for Silverthorne outlets
Owners of the Silverthorne Factory Stores want to make the shopping area bolder, brighter and more attractive to out-of-town shoppers and new retailers.
TGS Real Estate Investment Trust is asking the town to approve a major remodel of the stores’ exteriors in hopes of increasing their visibility from Interstate 70.
Owners want to build 42-foot-tall timber dormers above the biggest stores and install small billboard storefront signs throughout the three sections of the sprawling strip mall. The existing brown, steel roofs would remain 26 to 28 feet tall, but might be painted brighter colors.
In addition to timber dormers and bigger store signs, owners want to decorate buildings and columns with stones, stucco, fancier lighting and stained wood siding. A “richer color palate” is proposed, but the colors were not detailed in the application.
The improvements, if made, will attract additional national retail stores, said John Massing, senior vice president of TGS Real Estate Investment Trust of Alberta, Canada.
“Right now, if you’re driving down from the Eisenhower Tunnel, all you see is the motel and Subway restaurant signs,” Massing said. “The shops and the sales tax revenues cannot prosper based on just the local traffic and sales. We need to let the customers know what’s there and create the proper environment for today’s customers.”
When owners toured the property several months ago, they surveyed customers and tried to brainstorm ways to reverse declining sales. As a result, plans call for additional public restrooms in all three sections of the factory stores. All three sections also would have more outdoor public seating, possibly with outdoor fireplaces.
“Customers and retail tenants expect a more pleasant shopping experience,” Massing said. “We see a tremendous opportunity in the Silverthorne Factory Stores with the 10.6 million cars that drive by on Interstate 70 every year.
“The demographics show skiers who visit have an average family income of $110,000 per year and the average age is 35,” he added. “That’s a good demographic for retail sales.”