CREJ - Journal

78 / 88

Page 14B— COLORADO REAL ESTATE JOURNAL — June 17-June 30, 2015
F or the City of Lafayette,
2015 is set to be a
banner year with
announcements of new health
care and primary employers,
new restaurants and retailers
locating within the city,
and plans for multifamily
residential/mixed-use projects
underway. Lafayette is becoming
a hub of researchers and
developers of new technologies
for military, biomedical, health
and marketing applications,
as well as a home to creative
industries.
Lafayette invests in
encouraging new employers
and retailers to locate to the city
and new multifamily residential
and mixed-use developments to
locate in downtown. The success
of our efforts is evident as you
walk, run, bike, or drive through
our downtown and along our
many commercial corridors.
Lafayette is a home-rule
community located northwest of
Denver in the southeast corner
of Boulder County, 10 miles east
of Boulder, 6.5 miles north of
Broomfield and 6 miles west of
Interstate 25. The Northwest
Parkway on the city’s southern
border provides easy access
to the Denver International
Airport, which is just 20 miles
east. The City of Lafayette
is open for business and is a
strong supporter of economic
development. Our city
specializes in working closely
with businesses and brings out-
of-the-box thinking to economic
development projects.
Within a 5-mile radius of
U.S. Highway 287 and South
Boulder Road, there is a
population of 127,347 with an
average household income of
$112,118, as of February 2015.
More than 50 percent of adults
have at least a bachelor's degree
and 15.72 percent of adults have
a master’s degree. More than
70 percent of homes are owner-
occupied.
In 2010, Lafayette’s trade
area had general merchandise,
apparel and accessories,
furniture and other sales
(GAFO) of $383 million.
2015 Economic News
• Powerback, a 100-bed skilled
nursing, surgery rehabilitation
and assisted living facility,
celebrated its grand opening
near Exempla Good Samaritan
Medical Center in May.
• True Care, an 18,325-square-
foot building including space
for senior daycare and Hospice
of Boulder and Broomfield
Counties, is expected to open in
the fall of 2016.
• Meridian, a 62,000-square-
foot, 88-bed memory care/
assisted living facility, will
be starting construction this
summer. The facility will be
located at Old Laramie Trail
and Highway 287.
• Community Financial Credit
Union, located at the northeast
corner of Exempla Circle and
Highway 287. Includes the bank
headquarter relocation from
Broomfield to this site, a bank
branch, and additional area
for a potential café. The Credit
Union is expected to break
ground later this year.
• Xtreme Altitude Gymnastics
is expected to complete
construction on a 31,600-square-
foot gymnastics facility in the
Lafayette Tech Center in late
2015.
• Diamond Peak Center,
located at the corner of
Highway 287 and Diamond
Circle, in front of Walmart, is a
12,000-square-foot commercial
building with three users
occupants to be announced
soon. It is expected to open in
fall 2016.
• The Learning Experience,
located adjacent to Highway
287, northwest of Exempla
Hospital, is a 10,000-square-
foot child care facility that
will accommodate up to 170
students. The facility is set to
open this summer.
• Atlas Purveyors, a
neighborhood market locate
at 95th Street and Arapahoe
Road, opened in late 2014. This
market is a one-stop shop for
groceries and produce, meat
and seafood, pharmacy, gifts,
beer, wine, and spirits.
New Housing
• Simpson Old Town, a mixed-
use complex including 18
townhomes and approximately
2,350 square feet of commercial
space, broke ground in May
on Lafayette’s historic “main”
street. For more information,
go to:
com/
• Construction has begun
on the Trails at Coal Creek
subdivision located west of
Highway 287 and South Public
Drive, on the north and south
sides of Coal Creek. The Trails
at Coal Creek neighborhood is
being developed by Meritage
Homes and will include 317
single-family homes. Some
20 acres of land has been
dedicated to the City of
Lafayette for the purpose of
open space. Planned public
trails will feed into and enhance
the regional Coal Creek trail
system. Another 17.48 acres
have been dedicated to the
homeowners’ association to be
used for drainage and will act as
open common areas.
• LunaBella, a 240-unit
apartment complex, is
expected to open this summer.
The complex will feature a
clubhouse with a great room,
24-hour 2,000-square-foot
workout facility, a Junior
Olympic five-lane lap pool, hot
tub, car wash, dog wash and fire
pit.
• Plans are being developed
for a mixed-use building
complex located on 10 acres
north and east of City Hall,
along City Center Circle
and So. Public Rd. The City
Center Project will include
approximately 200 multifamily
units and 16,640 square feet of
commercial space.
Green Initiatives
Lafayette is a leader in
Colorado for clean energy
implementation. The city
currently has five solar
photovoltaic systems at city-
owned facilities, including a one
megawatt solar garden site that
this spring began producing
clean energy for city facilities,
local businesses and low-income
residents. The 12-acre solar
garden will annually offset 1,034
metric tons of carbon dioxide.
City of Lafayette
Roger Caruso
Economic Development Specialist,
City of Lafayette