Developer looks to move forward with 2nd phase of Wildhorse Marketplace
February 14, 2014
Steamboat Springs — The next phase of Wildhorse Marketplace could be in place by late 2015 or early 2016.
The mixed-use commercial development along Mount Werner Road has filled up in recent months, and the project's developer is looking to build on the remaining vacant area just east of the existing buildings.
When the original developer, Whitney Ward, withdrew from the adjacent residential project, Wildhorse Meadows, he obtained full ownership of the Wildhorse Marketplace.
Jon Sanders, of Ski Town Commercial, was hired by Ward to handle the leasing of the space and any potential sales to tenant businesses.
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Sanders said that a few tenants already are lined up for the next phase of Wildhorse Marketplace and that they're refining changes to conceptual plans as more tenants come on board.
The plan is to decrease the density of what previously was approved for the parcels to provide for more parking, Sanders said.
"It's flexible," he said. "We're looking for users that want to come on."
The market for retail is coming back, Sanders said, with vacancy going down and rates increasing.
The second phase of Wildhorse Marketplace also hopes to provide Class A office space, which Sanders said Steamboat lacks.
The plan is for high-quality office space with floor-to-ceiling windows, similar to what would be found in larger cities.
Sanders said the architectural feel will be similar to the existing Wildhorse Marketplace buildings, with a modern industrial feel and lots of windows all around.
There could be two or three buildings on the parcels, depending on potential tenants, he said.
"Some national brands want to be in the main building," he said, adding that they're still looking for some local tenants for office and retail space.
"We may put a restaurant in there, as well," Sanders said. "It's really about getting the proper tenant mix."
The plans continue to change through conversations with potential tenants, he said, as they look to design space to work for them.
When the project re-enters the city planning process, it is contingent on letters of intent, he said, but the project does not have to be fully committed to move forward.
The goal is to finalize plans by mid-summer, Sanders said.
"We'd like to deliver this fall 2015," he said, adding it could be 2016. "That's pretty fast."
"The location is the key, and that's what people want," Sanders said, adding that eventually there will be signage facing U.S. Highway 40 and Mount Werner Road.
"We're looking for the market to help us define the final conceptual," Sanders said. "The markets are going to talk to us, and that's how we're going to modify."