Description
The Campus West area is an aging (60s and 70s) suburban-style commercial arterial strip located next to CSU. The strip is surrounded by concentrated mixed housing that serves the student market.
More details:
- Abuts/terminates at CSU – 25,000 students and 8,000 employees
- Primary spine street, Elizabeth, is 4 lanes with 21,000 vehicles per day (newly rebuilt per the vision)
- Between the strip and CSU is another 4-lane arterial, Shields, with 37,000 VTD projected to grow into the 40,000’s
- Locally owned small parcels and modest multi-tenant buildings (7,000-20,000 sq. ft.)
- Potential redevelopment sites range in size from >1/2 acre to about 2 acres
Opportunities
- Redevelopment and tenant space
- Captive market of students
- Campus Retail; Neighborhood/Community Commercial
- 60,000 vehicles per day between the two main streets
- Apparent market voids, proximity to CSU, and residential base create potential to serve a broader market beyond students, if the area is repositioned with attractive character and an anchor or two
Vision
- Campus West Community Commercial District Planning Study (2001) (PDF 4.5MB)
- Zoned for retail which reflects a vision for multi-story mixed use pedestrian - street front redevelopment; City and public are supportive
- Planning Study done
- Newly rebuilt street is in place as step one
- First new mixed use loft redevelopment set to begin construction; 2-story 40,000 sq. ft. total
- Redevelopment probably feasible only with structured parking and with public subsidy of TIF
Challenges
- Most owners have a low basis, sound income stream with healthy occupancy
- Parking is strained