A mixed-use development potentially anchored by a “gourmet” grocery store could be built at 20th and Depew in Edgewater.
But first, the private developer under contract to purchase the old King Soopers property said it needs more time to finalize a deal.
A representative of Trinity Development Group was in Edgewater on Dec. 5 to ask for an extension to its agreement to purchase the city-owned property.
The Edgewater City Council did not take immediate action on the request. A revised purchase agreement will be up for a vote at the Jan. 2 business meeting.
David Henzlik, Trinity’s managing partner for leasing, said the Atlanta-based firm still believes the project can be done.
“It’s a wonderful market — it just needs time,” Henzlik said. “We need to educate the developers and the retailers about the opportunities here.”
Trinity had initially hoped to have committed tenants and a site plan in front of the city council within six months.
The current agreement, a $2 million offer approved by the council in June, included a 180-day review period for Trinity to conduct market analysis and feasibility studies on the 6.75-acre property.
Henzlik said progress is being made with two “grocery-type” retailers. One is a “gourmet” grocer, the other a traditional grocery store.
Neither was identified during the public meeting, but Henzlik said one has another location in the vicinity that could “stand some relief.”
Other amenities currently proposed for the site include apartments up to three stories in height and two or three restaurant pads, possibly with rooftop patios, Henzlik said.
Attracting large retailers like Kohl’s, Petco and T.J. Maxx, however, has been a challenge because of the lack of frontage along Sheridan Boulevard, he said.
“We’re not going after the B-level retailers,” he said. “We look at this as something we would want to own long term.”
The length of contract extension has yet to be determined, but would likely run at least six months, city manager HJ Stalf said.
All three buildings on the property are included in the purchase agreement. The largest, the old King Soopers store, has been empty for at least a decade.
“The council wants to give them the time to get the deal done,” Stalf said.
“We feel it’s a very good partnership.”
Emilie Rusch: 303-954-2457, erusch@denverpost.com or
