Work could begin this fall on the construction of a new shopping center in the town of Falcon, Colorado, 15 miles to the northeast of Colorado Springs.
The Falcon Marketplace, to go up on the northeast corner of Woodmen and Meridian roads, will be anchored by a 123,000 square foot King Soopers grocery store.
The Phoenix-based developer Evergreen Devco recently purchased the 36-acre site in question, while also providing a $1.5 million loan to developer Leon Capital to complete infrastructure work that had been stalled by the Covid-19 outbreak.
The new center will be designed to accommodate a bedroom community town that in recent years has seen an explosion of new residential and commercial construction, with its population more than doubling in the last decade to its current 13,000.
Evergreen Devco takes on large residential and commercial projects primarily in Arizona, California, and Colorado. Earlier this summer, the company purchased the upscale Turnberry at Heather Ridge apartments in Aurora.
In announcing that $46 million deal, Evergreen Devco said it planned to upgrade all of the complex’s 268 residential units, as well as its clubhouse.
Although an exact construction schedule for the larger new Falcon shopping center has not been announced, construction of the new King Soopers at the site is expected to begin in the fall, with a general 2022 completion date.
By Garry Boulard
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