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Page 22 — Retail Properties Quarterly — May 2017
Community Spotlight
O lde Town Arvada still holds
true to its historic char-
acter and charm, but its
once quiet streets now are
attracting new restaurants,
retailers and a burgeoning customer
base. In the past two years, more
than a dozen new establishments
opened in Olde Town, which covers
13 square blocks, bordered by Olde
Wadsworth and Grandview. The
sales tax collections exceeded $1
million in 2016, easily double the tax
revenue that was collected only 10
years ago.
There are many great reasons for
this rapid and healthy growth, chief
among them is the authenticity of
this historic downtown business
district that can’t be duplicated. It’s
something that’s achieved – bet-
ter yet, earned – over time. Olde
Town Arvada opened its first shop
in the late 1800s and the main
street steadily grew and welcomed
shops and boutiques for the next
120-plus years. It has been a place
where families, friends and neigh-
bors would gather, stroll and enjoy
the views of the Rocky Mountains
while enjoying a beverage, burger
or ice cream cone. No matter how
hard new developments across the
metro area may try, it’s impossible
to design and build a place this
authentic. It can only happen over
time.
Over the years, the patrons of
Olde Town have enjoyed an array of
privately owned shops and restau-
rants. Businesses
including Eli Ashby
Healing Arts, Into
the Fire, Turn-
ing Heads Salon,
Grandview Grill,
Ophelia’s, Hart’s
Dance Wear, Char-
lie’s Flybox, Paws
‘n’ Play, Primo Vino,
Olde Town Flower
Shoppe and other
have called it home
for more than 10
years. These retailers have become
destinations for consumers and stal-
warts in the community. They have
established a name for themselves,
survived economic downturns and
are the foundation for much of the
growth occurring now.
With a strong foundation in place,
well-known urban concepts are
opening new locations in the quaint
business district – including School
House Kitchen, Kline’s Beer Hall,
The Bluegrass Coffee, Sock, Bour-
bon Lounge, Four Barrel Bar & BBQ,
Vauna, New Image Brewing, Light
Rail Gallery, Silvi’s Kitchen, Home-
grown Tap & Dough, Denver Beer Co.,
along with many others – and are
thriving.
City officials and business owners
credit a number of factors for the
restaurant and retail boom, includ-
ing city investments to improve curb
appeal and make the district more
pedestrian friendly and key proper-
ties becoming available for redevel-
opment. Likewise, the much
anticipated commuter rail
line is on track to open later
this year, which will bring
more people to Olde Town
Arvada’s doorstep. The new
stop, a multimillion-dollar
station, will be located at
Webster and Grandview
Avenue and will carry thou-
sands of passengers, all of
whom will get the chance
to view Olde Town’s appeal,
if they don’t decide to step
off the train and experience
the district’s attractions first
hand.
Unlike some other cities
and towns in the Denver
metro area, Arvada has
been open and aggressive
in regard to providing eco-
nomic incentives to new
businesses, especially res-
taurants and retailers. This
proactive approach is anoth-
er reason for the increasing
appeal of the area.
Historic charm, traffic
and pedestrian counts, and
economic incentives aren’t
the only things driving inter-
est among restaurants and
retailers; so is the price to do
business. Reasonable real estate is
difficult to find in downtown Denver,
with lease rates exceeding $55 per
square foot in some areas. Mean-
while, the cost to lease space in Olde
Town Arvada tops out at approxi-
mately $30 per sf. Employees and
customers who are getting priced
out of the urban core are moving to
places like Arvada. As the “big city”
reaches a saturation point, these cit-
ies are becoming more of a borough
than a suburb. s
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President, Olde
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Arvada
Jay Simon
Arvada’s historic Olde Town is home to a dozen
new retail establishments in the past two years.