City Street Investors is pleased about the opportunity in Arvada.
The Denver-based company, which specializes in retail and restaurant properties, is working on a new beer garden project at 9248 W. 58th Place, similar to ones in Edgewater, Lowry, and Green Valley Ranch.
City Street Investors was asked by the Arvada Urban Renewal Authority (AURA) to develop the 1-acre site, according to co-founder Joe Vostrejs.
Vostrejs explained that AURA wants to revitalize an area that is not contributing much economically, and they facilitate development to create jobs and economic activity.
Once permits are approved and construction begins, AURA will sell the property to City Street, with the beer garden expected to open in spring 2025.
City Street plans to build a 5,000-square-foot building for the beer garden and a 2,000-square-foot building for lease to a retail or restaurant user.
The area between the two buildings will provide 14,300 square feet of open space for events, games, or art installations, according to Vostrejs.
The company is eager to make the most of this opportunity and hopes to replicate this success in future projects, Vostrejs added.
The beer garden is part of a larger redevelopment of the 14-acre site, which will also include housing. The property was previously a shopping center and gas station, and is being redeveloped due to environmental concerns.
The executive director of AURA described the old site as an eyesore that no longer met the community's needs.
AURA purchased the site in 2016 and is selling the portion for redevelopment to City Street for $230,000.
AURA is investing $1.6 million in necessary infrastructure, like sidewalks and utilities, and is selling the property at a discounted rate to attract developers like City Street.
It was important for AURA to partner with a local business like City Street instead of a national chain. They want the beer garden to reflect the local community, not be a generic establishment, according to Phair.
City Street is investing $4 million in the project, with the support of the Denver Urban Renewal Authority, which backed their first beer garden in Lowry.
He said that this is still following the same path. Not only have these shown to be successful economically, but we're very proud of how they improve the communities they are in.
After Lowry, City Street proceeded to open similar concepts in Edgewater and Green Valley Ranch. Like its other locations, Vostrejs stated that the Arvada Beer Garden will offer Colorado craft beer and food like salads and sandwiches. Around 20% of the menu will be specific to the location, which is something City Street does at all of its beer gardens.
Many communities are requesting us to create one for them. If we can find the right place and make the numbers work, we would love to have as many as communities want.
City Street is the group responsible for other Denver redevelopment projects, such as Union Station in 2014. Its current projects include the renovation of Capitol Hill United Neighbors’ Tears-McFarlane House on Cheesman Park and another beer garden at 1991 Youngfield St. in Applewood, an unincorporated area next to Lakewood. That beer garden is expected to open later this year.
This story was reported by our partner BusinessDen.
