A development company controlled by tennis star Michael Chang and his family has been chosen to build a 17-acre retail project at Denver International Airport.
CMCB Development Co. plans to construct The Landings at DIA on the parcel north of Peña Boulevard and southeast of the airport’s large Conoco station.
The project is intended to provide retail and dining options for those driving to and from the airport. More than 85,000 vehicles per day pass by the site, according to airport officials.
The project is expected to serve as a model for what could eventually be 500 acres of additional development on airport property. DIA officials believe such development could create an additional revenue stream for the airport.
CMCB Development is part of the Chang family’s California-based CMCB Real Estate Partners, which owns Denver’s Commercial Real Estate Co. and SullivanHayes Brokerage. The company will work with Redwood Real Estate Partners LLC as a financial partner on the project. SullivanHayes will handle the leasing.
“It’s exciting to be affiliated with DIA and to help them continue to identify themselves as one of the premier airports in the country,” said Carl Chang, chief executive of CMCB.
The company was selected from among three finalists that responded to a proposal request issued by the airport in December, said Stan Koniz, the airport’s chief financial officer.
The company and the airport will now enter into ground-lease negotiations that are expected to take 30 to 60 days.
Koniz announced the selection of CMCB Thursday at a luncheon hosted by the DIA Business Partnership. Speakers at the event also updated attendees on various retail developments and trends emerging in the area surrounding the airport.
More than 500,000 people are expected to live in the region surrounding DIA by 2030. So far, 33 retail projects totaling 4 million square feet are planned for the area, said Julie Bender, president and chief executive of the DIA Business Partnership.
Staff writer Kristi Arellano can be reached at 303-820-1902 or karellano@denverpost.com.
