The Northglenn City Council has dropped negotiations with its “preferred developer” for a 17-acre mixed-use project at 120th Avenue and Grant Street.
The project, which city leaders envision as a retail and restaurant destination to help the city recapture lost sales tax dollars, is to be anchored by a 16-screen Century Theatres. Construction on the theater, which will be built and owned by San Rafael, Calif.-based Century, is underway and should be finished by mid-2006.
Opus/Golberg, a partnership between Opus Northwest and Goldberg Properties, was selected as the preferred developer for the remainder of the property in March.
In an executive session held Thursday, the city council voted to discontinue negotiations with Opus/Goldberg.
“With their excellent track record, we never doubted Opus/Goldberg’s credentials,” said city manager Phil Nelson said in a statement issued by the city. “Ultimately, we simply did not share a common vision for the 120th Avenue development.”
Opus/Goldberg officials did not immediately return messages today.
With Opus/Goldberg out of the picture, the city must decide whether to take over as master developer for the project or select another developer. Nelson said a decision will be made within the next two to three months.
Staff writer Kristi Arellano can be reached at 303-820-1902 or karellano@denverpost.com.
