Project Overview
River Point at Sheridan will become a vibrant new retail district for the city of Sheridan and its neighbors in Englewood and Southwest Denver. Taking advantage of the natural splendor of the Platte River and Englewood Golf Course which border the property, the development will be an open-air collection of shops, dining and entertainment.
The project will include public improvements to the area including new roads, vehicular and pedestrian river bridges, landscaping and riverfront amenities with public access along the South Platte.
As a Brownfield redevelopment site, the project will revitalize the area while mitigating current unsafe environmental conditions, improving the environmental state of the existing properties and removing blight from the area.
Economic Impact
The development will generate approximately $9 million in new annual sales and tax revenue for the City of Sheridan with an estimated 1,000 long-term jobs.
Financing
The Sheridan Redevelopment Agency will provide public assistance to help finance the project, estimated to cost $150 million. No general tax funds from the City will be used. Construction financing will rely on public bonds repaid with tax-increment financing, designating a portion of the sales and property taxes generated by the businesses within the development
Environmental Concerns
A major portion of the project is located on two former landfills. WMS has made provisions for remediation of those areas as part of the overall development. The development’s Voluntary Cleanup Plan (VCUP), which details the developer’s proactive measures for cleaning up potential environmental hazards, was approved by the Colorado Department of Public Health and Environment on April 18, 2006. Learn more about the environmental efforts and community impact of construction.
History of the Redevelopment Project
