HomeMy WebLinkAbout06/20/2000AGENDA
CITY OF WHEAT RIDGE
URBAN RENEWAL AUTHORITY
Tuesday, June 20, 2000
7:00 p.m.
Notice is hereby given of a Public Meetiug to be held before t6e City of Wheat Ridge Urban
Renewal Authority on June 20, 2000, at 7:00 p.m., City Council Chambers, 7500 West 29th
Avenue, Wheat Ridge, Colorado.
1. Call The Meeting to Order
2. Roll Call of Members
3. Consideration of Absences
4. Approval of Minutes - May 16, 2000
6. Public Forum (This is the time for any person to speak on any subject not appearing on
the agenda)
7. Unfinished Business
8. New Business
A. Northern Portion of URA
1) Market Feasibility Study Update
2) Economic Impact Model Update
, 3) Sales and Property Tax Increments
B. Area West of Wadsworth - 44`" Avenue to 3-Acre Lane
9. Adjournment - July 18, 2000
C:\earbara\ECOOEVO W GENDAS\000620.wptl
MINUTES OF WHEAT RIDGE
ECONOMIC DEVELOPMENT AND REVITALIZATION COMMISSION
May 16, 2000
7:00 P.M.
1. CALL THE MEETING TO ORDER
The Wheat Ridge Economic Development and Revitalization Commission meeting was
called to order by Chairman ROACH at 7:00 p.m.
2. INTRODUCE NEW EDARC MEMBERS
3.
Alan White introduced Vance Edwazds, City Council representative, and Jim Goddard, at-
large representative, as new members of EDARC.
3. ROLL CALL OF MEMBERS
Commissioners present:
Rae Jean Behm
Norm Burkpile
Vance Edwazds
Jim Goddard
Elwyn Kiplinger
Janet Leo
Richazd Matthews
Mazgy Platter
Jerry Roach
Also attending were: Alan White, Planning Director
Martin Orner, Economic Development Specialist
Valerie Adams, City Manager
Jerry DiTullio, City Council Member
Odazka Figlus, City Council Member
Ann Lazzeri, Recording Secretary
Bob Olson, The Chronicle
4. CONSIDERATION OF ABSENCES
There was a consensus of the Commission that the absences of Sandra Collins and John Hall
be excused.
EDARC Minutes Page 1
OS/16/00
5. APPROVAL OF MINUTES
It was moved by Commissioner MATTHEWS and seconded by Commissioner
PLATTER to approve the minutes of the February 15, 2000 EDARC meeting. The
motion passed unanimously with Commissioners GODDARD and EDWARDS
abstaining.
6. PUBLIC FORUM
Jerry DiTullio, City Council President, presented an update of recent City Council actions:
• An ordinance removing Section 25-25 of the urban renewal ordinance was approved
which places EDARC's sole focus on urban renewal.
• An ordinance adding two additional members (one city council member and one at-lazge
member) to EDARC was approved.
• A resolution creating the Economic Development Committee was approved. The first
meeting will be held in May.
• It is planned to have the position of Economic Development Coordinator filled by
August.
7. UNFINISHED BUSINESS
There was no unfinished business to come before the Commission.
8. NEW BUSINESS
A. Duties and Responsibilities of EDARC - Alan White gave a brief arientation for
the benefit of the new members. He also reviewed the organizational changes
previously described by Council Member DiTullio.
B. Selection of Economic Development Committee Representative - There was a
consensus of the Commission that Chairman ROACH appoint Dick Matthews as
EDARC's representative to the Economic Development Committee.
C. Jefferson CountY Economic Council (JEC) Development Model - Alan White
distributed copies of an economic impact model example which had been developed
EDARC Minutes Page 2
OS/16/00
by JEC. He stated that, as a member of JEC, Wheat Ridge could utilize this model
on potential development and redevelopment opportunities; and that it would be a
valuable tool to be used in the urban renewal program.
It was moved by Commissioner EDWARDS and seconded by Commissioner BEHM
that EDARC direct the City Manager and Planning Director to contact JEC about
creating an economic development model for the northern half of the urban renewal
area and that the information be presented to EDARC at the next meeting. The motion
passed unanimously.
Commissioner Edwazds commented that he actively pursued appointment to EDARC
because he believes the number one priority for economic development in the city is the
redevelopment of the urban renewal azea. He believes there is unified involvement within
the city to make it happen at this time. He stressed the importance of focusing on the entire
urban renewal area rather than doing it piecemeal.
Chairman ROACH suggested that consideration be given to changing the name of EDARC
to more accurately reflect its new direction in terms of urban renewal. There was a
consensus to have an ordinance brought before City Council to change the name of the
Economic Development and Revitalization Commission to t6e Wheat Ridge Urban
Renewal Authority. Vance Edwards will introduce the ordinance at the next City Council
meeting.
9. EXECUTIVE SESSION (Consultation with City Attorney to receive legal advice on
the size and administration of the Urban Renewal Area)
It was moved by Commissioner BEHM and seconded by Commissioner EDWARDS to
adjourn the meeting to executive session at 7:45 p.m. The executive session was
adjourned to the regular meeting at 8:20 p.m.
It was moved by Commissioner EDWARDS and seconded by Commissioner
PLATTER that EDARC direM staff to bring back information regarding the option of
deleting the northern portion from the urban renewal area for a period of six months
with an estimate of what taxes would be lost. The motion passed unanimously.
Commissioner EDWARDS moved and Commissioner LEO seconded that staff be
directed to start working on an RFQ for an economic development assessment for the
northern part of the urban renewal area at the next meeting. The motion passed
unanimously.
EDARC Minutes Page 3
OS/16/00
Commissioner EDWARDS moved and Commissioner BEHM seconded that a
discussion of urban renewal properties west of Wadsworth From 44th Avenue to Three-
Acre Lane be placed on the agenda for the next meeting. The motion passed
unanimously.
10. ADJOURNMENT
It was moved by Commissioner EDWARDS and seconded by Commissioner LEO to
adjourn the meeting at 8:35 p.m.
JERRY ROACH
Chair
Ann Lazzeri
Recording Secretary
EDARC Minutes
OS/16/00
Page 4
oF WHEAr.
City of Wheat Ridge
Planning and Development Department " `Memorandum
TO: Wheat Ridge Urban Renewal Authority Members
FROM: Alan White, Planning and Development Director I
v~v~
SUBJECT: Mazket Feasibility Study
DATE: June 15, 2000
Enclosed with this packet is a copy of the Request for Qualifications sent out for the preparation
of the market feasibility study for the northern portion of the Urban Renewal Area.
Also enclosed is one proposal received in response to the RFQ. Please review the both the
RFQ and the proposal for discussion at our meeting on Tuesday. We need to decide if the
proposal matches the scope of work we are looking for the consultant to perform.
QN-IyFiles\WPFiles\EDARC4narket smdy memo.wpd
City of Wheat Ridge
City Manager's Office
Memorandum
TO: Alan White, Director of Planning and Development
Wheat Ridge Urban Renewal Authority
FROM: Valerie D. Adams, City Manager
SUBJECT: Request for Qualifications - Market Feasibility Study for Urban Renewal
Area
DATE: May 31, 2000
I am forwarding a copy of the RFQ for the preparation of a mazket feasibility study for the urban
renewal azea. The request has been mailed out and proposals aze scheduled to be opened June
12. I will have copies of the proposals for your review available at your June meeting.
For your information.
cc: Mayor
City Council
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CITY OF WHEAT RIDGE:
URBAN RENEWAL AUTHORITY
REQUEST FOR QUALIFICATIONS
RFQ # 00-007
PROFESSIONAL CONSULTING SERVICES
TO PREPARE A MARKET FEASIBILITY STUDY FOR
APPROXIMATELY 36 ACRES LOCATED WITHIN AN URBAN
RENEWAL AUTHORITY AREA AT 44TH AND WADSWORTH
PROPOSAL OPENING DATE:
Monday June 12, 2000
PROPOSAL OPENING TIME:
2:00 P.M.
Issue Date: May 3Q 2000
I. PROPOSAL NOTICE
The City of Wheat Ridge, Colorado, Urban Renewal Authority; ("WRURA") is accepting
written statements of qualifications, "(Proposal") as the first step in a process of selecting
a Consultant to develop a mazket feasibility study of approximately 36 acres that is
currently in an urban renewal district located in the City of Wheat Ridge, CO at the
intersection of 44`h and Wadsworth.
The mazket feasibility study will be required to address:
• The fiscal and economic impacts of the described area from altemative reuse
scenarios.
• Redevelopment needs to achieve full economic potential of this location.
• Appropriate mix of businesses that will facilitate synergistic success, and
• Mazketing information and data for developmen[ potential for prospective
redevelopers.
The work products required will be a final report submitted within four (4) months from
the date of the awazd of the contract to the successful Consultant.
The Consultant shall deliver their response to this Request for Qualifications on or before
Mondav, June 12, 2000 at 2:00 P.M. at which time only the names of the firms
submitting proposals will be read aloud.
Proposals shail be in a sealed envelope, plainly marked "MARKET FEASIBILITY
STUDY - 44TH AND WADSWORTH - RFO 00-007" and returned [o:
City Of Wheat Ridge
Attn: Purchasing
7500 W. 29`h Avenue
Wheat Ridge, Co 80215
All proposals shall be submitted with an original and Fourteen (14) copies fot a total of
Fifteen (15) complete sets. The WRURA or the City of Wheat Ridge shall not be
responsible for any costs incuned by the Consuitant prior to the approval of the Contract
by the WRURA.
No Proposals will be considered which aze received after the dme mentioned, and any
Proposals so received shall be retumed to the Consultant unopened and will not be
considered under any circumstances. Sole responsibility rests with the Consultant to see
that their Proposal is received on ume at the stated locadon.
City of Wheat Ridge - RFQ 000-007 05/30/00
i
WRURA and/or [he City of Wheat Ridge reserves the right to reject any and all Proposals
or any part thereof, to waive any formalities or informalities and further, to award the
Proposal deemed to be in the best interest of WRURA or the City of Wheat Ridge.
Any questions concerning this Request for Qualifications shall be directed to:
Valerie D. Adams, Citv Manager (303) 235-2804.
City of Wheat Ridge - RFQ 000-007 05/30/00
ii
II. REQUEST FOR QUALIFICATIONS
INTRODUCTION:
The residents of Wheat Ridge, its elecred officials, and staff aze committed to the revitalization of the
Wadsworth comdor. To fur[her this commitment, the City of Wheat Ridge has entered into an agreement
with the City's Urban Renewal Authoriry for the revitalizadon of [he area located at 44'h and Wadsworth
Avenue. Both the Ciry Council and the City's Urban Renewal Authoriry believe that it is essential to have
qua]iry redevelopment projects that will work in concert with the City's Comprehensive Plan.
The area that this Proposal covers is part of a lazger azea included in an existing Urban Renewal Area.
This azea was established over 18 yeazs ago. A portion of [he azea has successfully been revitalized and is
home ro several successful retail businesses. The remaining azea, ($hown on the Attachments) has not
been redeveloped. In essence, the azea that the mazket feasibility study will be focused on only has
approximately six (6) years left under the Urban Renewal Authority Agreemen[ between the WRURA and
the City.
The City realizes that this time frame may be unrealisac and is willing to consider all options that will
maximize the time frame for which to redevelop the azea.
OVERVIEW:
1. Who Are We?
The City of Wheat Ridge is a mamre thriving community in [he Denver metropolitan azea that has a rich
history and a brigh[ future. Although the azea has been steadily developing post World Waz II, it
incorporated in 1969 in part to retain its chazacter and unique idendry within the metropolitan Denver azea.
Within the City of Wheat Ridge exists a thriving industrial azea, which is located primarily along the I-70
comdor. _
Throughout Wheat Ridge aze residential neighborhoods [hat provide a variety of housing choices.
Although the City imposes a real estate property tas, the City's revenue sources aze dependent upon retail
sales and use taxes. Many small commercial azeas aze laced throughout the city. Most were constructed in
the fifties and sixties. As we enter the new millennium, many of these azeas are prime locations for
revicalization and beaudficafion. This renewed interest has spazked the desire for reinvestment into the
community using an aggressive revitalization program for the azea under consideration in this Proposal.
The City and WRURA aze committed ro preserving and further enhancing the current family-friendly
community atmosphere. The City's newest addition is the Whea[ Ridge Recreational Centec The facility
is a state of the art 72,000 sq. ft. aquatic and recreation complex. In addition to this recreational amenity,
the City owns and maintains over 250 acres of pazk and open space that is available for residents and the
surrounding community to enjoy.
The Ciry has recently finished the Wadsworth Corridor study to identify possible infraswcture
improvemencs to an azea that has great redevelopment opportunities. Coupled with this effoR, the City has
formed a new community driven Economic Development/Redevelopment Coaunittee that will work to
develop a master plan for future economic revitalization projects and programs. This citizen driven
Committee will then work closely with the City Council and the WRUR4 to implement new revitalizauon
projects that will hopefuliy diversify the City's revenue streams. As if this was not enough, the City is also
taking on the,tedious task of reviewing and revising the zoning code to reflect the needs of the community.
2. What Have We Done?
The Ciry has developed and adopted a comprehensive master land use plan. In addition, the WRURA has
successfully revitalized a portion of the current urban renewal azea.
Wheat Ridge UR - RFQ 00-007 1 Market Feasibility Smdy
3. Where Are We Goi~no?
The City of Wheat Ridge anticipates the fumre with optimism as it prepares to meet the 21" Cenmry. To
be ready to serve the needs of our community, the citizens, the WRURA, elected officials and staff believe
that it is imperative to revitalize significant commercial corridors within the City. The City and WRURA
believe that the azea defined in this Proposal may be one of the most important corridors for commercial
revitalization.
It is our hope and desire that the development process used by the Consultant will include a process that
will foster a meaningful partnership with the WRURA and the City. In an effort to assist the Consultant the
WRURA along with city staff, will work closely with the selected Consultant ro put together a mazket
briefing report that will address the community, fiscal and economic impact of the area defined in this
Proposal.
ELEMENTS OF THE PROPOSAL:
The response to this Proposal should include a one page Executive Summary of the services that will be
provided under the Proposal's Scope of Services. In addition to the Executive Summary, the Proposal shall
provide a written response to this request that will address the following points:
- The steps that aze necessary ro complete [he project.
- Detailed description of the process used to assist the WRURA through this evaluation process.
- Any other team members or wnsultancs that will be part of this projecc
- Detailed description of the approach on creating partnerships with the WRURA ro facilitate and achieve
support for the recommendations made in the mazket feasibility evaluation.
- Idendfy any resources that will be required ro perform the scope of work.
- Include a list and descripuon of other similaz projects and a list of references that can be contacted.
SCOPE OF SERVICES
Identifv [he Base Scenario -
Provide a basis for evaluating community, fiscal and economic impacts on the City from other alrernative
reuse scenarios. This should include, but not be limited to developing property data for use by private or
public partnerships for the redevelopment of the azea.
Evaluation of the Reuse Opportunities
It is obvious that redevelopment is necessary to achieve full economic potential of this azea. T'his portion
of the scope of services should address the underlying mazket factors [o facilitate redevelopment of this
azea. This evaluation should look closely at retaiUcommercial redevelopment, coupled with other mixed
land uses.
Preparation of a Mazketine Brief for Redevelooment Opoortunities
This should include, but not be limited [o gathering background and supporting documentation, evaluation
of all facrors direcfly/indirectly affecdng the azea and possible financing mechanisms that may be available
ro the WRURA.
Wheat Ridge UR - RFQ 00-007 2 Market Feasibility Study
This portion of the scope of services shalt be a uritten document that will assis[ WRliRA in tha
implementation of redeveloping the azea.
SELECTION PROCESS:
The procurement process for these services will be based upon a Qualifications Based Selection (QBS)
process. The award of an agreement will be made ro the consultant offering a proposal which best mee[s
the needs of the Ciry.
Each qualifed proposal will be evaluated on the basis of the following criteria
1. Quality of proposal and specific approach; and
2. Credentiafs of firm and demonsuated ability in similar projects.
Since time is of the essence, we feel that it is only fair to outline how the WRURA will be moving through
the selection process. A short list will be created based on this evaluation process. Firms on this short list
will be required to interview and make a presentation before the WRURA to further present their
qualifications and ideas in a visual form using examples from previous similaz work.
Final selection will be based on the best proposal and presentation/interview that best meets the needs of
the city.
SCHEDULING:
We know that time is a valuable commodity and that this type of project, if done right, will take both
patience and time. Yet, the schedule is imperaave to the success of this project.
To help illustrate how you propose to move us along in this project in a timely manner, please outline a
dmetable in calendaz days for all steps of the proposed project. Please be sensitive to length of time spent
on this project and the number of ineetings proposed to accomplish the scope of services.
COSTc
Please estimate the time and expense for each proposed step. This section should include total hours per
activity and all related direct and indirec[ costs.
FINAL WORK PRODUCT:
If the City chooses to move forwazd and hire a Consultant, the selected consultant will provide to the
WRURA a final written report oudining the mazket feasibility of the uea [hat will demonsvate a
starting point for prospective redevelopers.
PROPOSAL SUBMISSION:
If you aze interested in submitting a proposal please send one original and fourteen (14) copies of your
proposalto:
City of Wheat Ridge
Attention: Purchasing
7500 W. 29" Avenue
Wheat Ridge, CO 80215
All proposals must be received by 2:00 p.m., Monday, June 12, 2000, at the above stated address.
Nof'axed nroDOSals will be acceoted
Wheat Ridge UR - RFQ 00-007 3 Market Feasibility Smdy
1. If [he City moves forward with this project, Ihe selected consultant will be requirzd [o enter into a
convact with [he City. The final contract is subject to final approval by the WRURA and/or the Ciry
Council.
The City reserves the right to reject or accept any or all proposals or ponions of a proposal deemed to
be in its best interest.
Neither the disvibution of this RFQ nor acceptance of any response should be construed as creating a
contractual obligation between the WRURA, the Ciry and any Consultant The WRURA or the City
does not authorize and will no[ be responsible for any expense or chazges associated with providing a
response to this Request for Qualification.
Your proposal must remain valid for at least ninery (90) days after the submittal date.
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Wheat Ridge UR - RFQ 00-007 4 Mazket Feasibility Study I,
Zoning 0 100 200 FeetU~E
Wheat Ridge Town Center North
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Wheat Ridge Town Center North Owners h i p Parcels o ioo zoo Fee[ T~
URBAN RENEWAL AREA NORTH
PARCEL DATA
1.
4350 Wadsworth
8.
4100 Wadsworth
Size: 3.248 acres
Size: 1.97 acres
Zoning: C-1 & R-C
Zoning: PCD
2.
4300 Wadsworth
9.
7340 West 44`h
Size: 0.7660 acres
Size: 0.0260 acres
Zoning: C-1 & R-C
Zoning: C-1.
3.
7540 West 44`h Ave
10.
7340 West 44`n
Size: 1.556 acres
Size: 4.166 acres
Zoning: G1 & R-C
Zoning: PCD
4.
4184 Wadsworth
11.
7300 West 44`n
Size: 9.394 acres
Size: 0.23 acres
Zoning: G 1
Zoning: G 1
5.
4084 Wadsworth
12.
7540 West 44"'
Size: 0.455 acres
Size: 3.204 acres
Zoning: G 1
Zoning: G 1 and R-C
6. APN:39-234-04-005
Size: 0.70 acres
Zoning: PCD
TOTAL ACREAGE: 26.3
7. 4020 Wadsworth
Size: 0.592
Zoning: PCD
MEMORANDUM
Approved Date 11
cIIneTMElrroF?ueucwcnrc:
TO:
Valerie Adams, City Manager
FROM:
Steve Nguyen, Traffic Engineer
--44
DATE:
Wednesday, May 24, 2000
SUBJECT:
Traffic Count Information
The following
is the traffic count information you requested:
I-70-44" 44th-38th
38th-32nd
Wadsworth Bl
vd 52,300 49,600
45,500
vipling Street
42,000 46,600
36,000
West 44w Avenue
CraWadsworth Blvd
15,800
32nd-26th
48,400
35,900
Co3KiplinQ Street
14,600
West 38'h Avenue 18,500 13,050
West 32"' Avenue 8,550 7,750
Each of the above figures represent a 24-hour total vehicle count for both directions for that roadway
segment. These counts were taken between 1995 and 2000. Please note that Wadsworth & Kipling
comdors aze classified as major arteriais which carries through trafFc from other cities in addition to local
traffic. The east-west collector streets such 38' and 44' Avenue also carry relatively significant amounts of
traffic due to their connectivity. These collectors traverses the City and also extend into other cities as well.
Since growth in the region has and continues to occur at high leveis, the traffic volumes are also expected
to increase. This increase would result from regional growth and the development (or redevelopment)
in the corridors.
I hope the information is useful for your needs. Please see me ifyou have any questions regarding this memo.
MEMORANDUM
Approved Date
IIF3AF.TDffiV7 0F YUBLIC WORY..",
TO:
Valerie Adams, City Manager
FROM:
Steve Nguyen, Traffic Engineer
~
DATE:
Wednesday, May 24, 2000
SUBJECT:
Traffic Count Infortnation
The following
is the traffic count information you requested:
I-70-44" 44th-38th
38th-32nd 32nd-26th
Wadsworth Bl
vd 52,300 49,600
45,500 48,400
'Upling Street
42,000 46,600
36,000 35,900
West 44' Avenue
West 38' Avenue
West 32"d Avenue
OWadsworth Blvd
15,800
18,500
8,550
r~Kipline Street
14,600
13,050
7,750
Each of the above figures represent a 24-hour total vehicle count for both directions for that roadway
segment. These counts were taken between 1995 and 2000. Please note that Wadsworth & Kipling
corridors are classified as major arterials which carries through traffic from other cities in addition to local
traffic. The east-west collector streets such 38' and 44' Avenue also cazry relatively significant amounts of
traffic due to their connectivity. These collectors traverses the City and also extend into other cities as well.
Since growth in the region has and continues to occur at high levels, the traffic volumes are_ also expected
to increase. This increase would resuit from regional growth and the development (or redevelopment)
in the corridors.
I hope the information is useful for your needs. Please see me ifyou have any questions regarding this memo
May 25 00 07:17a Development Research Prtn (303)933-4463 p.l
Development Research Partners
DAT'E; May 25, 2000
TO: ValedeAdams
FAX: 303-2345924
Phone: 303-235-2804
FftOM: Patty Silverstein
Phone: 303-933-2834
FAX: 303-933-4453
PattyDRP@aolcom
Number of psges, inclncliag cover: 3
Message:
Valerie:
Here is a copy of a scape of work that we preparad for a similar project. Perhaps it
contams some language or ideas that you can use.
Please feel free to call my partner, 7esse Silverstein (303-933-4464), for add'aional
infarmation. He specializes in real estate analysis and would be happy to gve you
additional ideas for the RFQ.
Please put us on the list to receive the RFQ when it is released. It may be sent to the
address beiow.
Patty
8138 West Caley Place, Suite 2001 • Littleton, Colorado 80123 ~
- - VOICE: (303) 933-2834 • -FAX: (303) 833-4463 • PattyDRP@aol.com .
i~acelvetl: 5125/ O 7:06AM;
May 25 00 07:17a
E[t) BUSIOQSS i111I
303 933 4463 -1 GSTY OF WMEATflIOGE; Pa9e 3
Development Research Prtn 13037933-4463 p.3
An appropriate mix of businesses will faciiitate synergistic success and ensure that
residents have a diverse choice of local goods and secvices.
a) Current mix ofbusinesses
b) Additional goods & services needed as identified by residents and businesses
c) Undersupply/oversupply of specific business categories
d) Review/compazison of curcent business mix with existing retail market studies that
have been completed, i.e.- Forest Ciry for Stapleton
I~ Prepare a Marketing Brief for Private Enterprises Interested in
Redevelopment/Reuse
Background informatioq market data, and an evaluation of development potential aze
presented as a starting point for prospeciive redevelopers.
a) 7ntroduction (overview of current conditions, Westininstec's goals, and the
opportunity)
b) Neighborhood and surrounding area economic overview- (demographic, business,
rea] estaze trends & opportunities)
c) Property description- (ownership, occupancy, physical condition, site conditions,
environmental conditions)
d) Description and analytical results of market potemial
e) Presentation of other City possible financing, enhancement, and other partnering
mechanisms.
rtecelved: 5/251 O 7:06AM; 303 933 4463 CITY OF WHEATFIDGE; Page 2
May 25 00 07:17a Development Research Prtn f3031933-4463 p.2
n Idendfy the Base Scenario
To (1) provide a basis for evaluating community, Sscal and economic impacts on the City
from alternative reuse scenarios, and (2) to develop property data for use by private
enterprises to understand the redevelopment opportunities and challenges presented.
a) Existing developmem and land uses in the general area
b) Demographic estimates for the neighborhood and surrounding azea
i) population (neighborhood & per household)
ri) income (neighborhood & per household)
ni) age-cohorts(neighborhood & perhousehold)
iv) average household size & composition
v) school children multiplier (student yield)
c) Inventory redevelopment parcels for each commercial node inciuding size,
dimensions, frontage, access, ownership, existing improvements and condition,
assembiase potential, etc.
II} Evaluate Reuse Opportunities
Redevelopment is needed to achieve the full economic potential of this location and to
enhance the quality of commerciaE services available to the neighborhood. Underlying
mazkei factors are evaluated to facilitate redevelopment by private enterprise.
a) Implications af the Comprehensive Plan, infrastructure improvements and other
City activities on the outlook for the neighborhood and surrounding area
b) RetaiUCommercial Development Analysis
i} Retail demand analysis
1. consumer expenditure patterns
2. retai( purchasing power (neighborhood
consumption/purchasing power per acre estimates)
(b) Supportable gross leasable space
ii) Real estate mazket analysis
1. existing inventory, rental rates, and vacancy (neighborhood and
surrounding azea)
2. undersupply/oversupply of space
Development Research Partners
June 12, zooo
Ms. Valerie Adams
City Manager
City of Wheat Ridge
7500 West 29t' Avenue
Wheat Ridge, Colorado 80215
Dear Ms. Adams:
I am pleased to submit this prooosal to prepaze a mazket feasibility study for approximately 36 acres at
44°i Avenue and Wadsworth Boulevard for the City of Wheat Ridge. After reviewing your recent
request for proposals and examining the issues it presents, we herein provide our recommendations on
how to accomplish the City's goals.
Our team's approach reflects the unique, diverse backgrounds of its members. Development Reseazch
Partners combines Colorado-based practitioners with experience and knowiedge in economic research,
economic development, reai estate analysis, and community planning. Our skill and responsiveness
may be attested to by a diverse base of clients including the Metro Denver Network, the City of
Lakewood, Jefferson Economic Council, Aurora Economic Development Council, and the City of
Englewood, to name a few.
We believe our team has superior credentials for this project, having worked on similar projects
throughout the Denver metropolitan area. Our depth of experience in hands-on economic development
means we can prepare and present studies that community leaders will be ab(e to understand and use
immediately.
Our proposal has been prepared in accordance with the RFP. Please direct any questions and comments
regarding the proposalto:
Jesse Silverstein, Principal
Development Research Partners
8138 West Caley Place, Suite 2001
Littleton, Colorado 80123
V(303) 933-4464, FAX: (303) 933-4463, JesseDRP@earthlink.com
We look fonvazd to working with the City of Wheat Ridge on this exciting project.
Sincerely,
~ Jesse D. Siiverstein
Principal
8138 West Caley.P{ace •.:Su.ite;2001:•..Littleton,.Golorado 80123 • 303-933-4464 • FAX 303-933-4463
EXECUTIVE SUMMARY
The City of Wheat Ridge desires to evaluate the redevelopment potential of, and to attract appropriate
redevelopment to, approximately 36 acres located at the intersection of 44t' Avenue and Wadsworth
Boulevard. Development Research Partners (DRP) proposes a to evaluate initial site conditions, estimate
the economic and fiscal implications of various reuse options, and develop marketing information
appropriate to amact interested businesses and developers. DRP will work closely with the City of Wheat
Ridge (City) and the Wheat Ridge Urban Renewaf Authority (WRURA) to ensure full communication
and support, maximize the use of prior research, and fully consider complementary City efforts such as
land use and capital investment planning. Additionally, DRP will develop and provide a redevelopment
"model" that the City can use throughout the redevelopment period, after the term of our initial scope of
work has expired.
Briefly, Development Research Partners strategic approach incorporates the following activities
n Identify the Base Scenario
Pu ose: To (1) provide a basis for evaluating community, fiscal and economic impacts from alternative
development scenarios, and (2) to develop property data for use by private enterprises to understand the
opportunities and challenges presented.
Research and Reporting:
1) Inventory of land parceis including size, dimensions, frontage, access, ownership, existing
improvements and condition, assemblage potential, etc.
2) Existing development and land uses in the surrounding area.
In Evaluate Reuse Opportunities
Purpose: Reuse/redevelopment is needed to achieve full economic potential and enhance the quality of
commercial goods and services available to the community. Underlying market factors are evaluated to
facilitate redevelopment by private enterprises.
Research and Reporting
1) Implications of comprehensive planning, infrastructure improvements and other City activities.
2) Neighborhood RetaiUCommercial Development Analysis inciuding an evaluation of consumer
expenditure pattems (demand analysis) overall neighborhood retail purchasing power, and demand for
retail/commerciaUresidential space.
3) A real estate market analysis of azea-wide existing inventory, rental rates, and availability of space.
This property "supply" estimate will be compared to "demand" estimated above and evaluated for
development and renovation opportunities.
M. Prepare a"Business and Development Opportunity Report"
Purpose: Background information, market data, and the evaluation of opportunities are presented as a
starting point for prospective businesses and developers interested in this location.
Research and Reportinsz: 1) Introduction (overview of current conditions, goals, and opportunities).
2) Economic overview: neighborhood and surrounding area (demographic, business, real estate trends &
opportunities).
3) Properry description (ownership, occupancy, physical condition, site conditions)
4) Description and evaluation of retail/commercial market potential..
5) Presentation of possible City financing support and other partnering opportunities.
Dwe[opment Research Parlnersf 9hed2 Ridge UR - RFQ 00407
STEPS NECESSARY TO COMPLETE THE PROJECT
l. Interview City and WRURA representatives to establish an understanding of project goals
and research and strategies implemented to date.
2. Drive/walk inspection of the redevelopment parcels, the completed revitalization area, and
the surrounding neighborhoods.
3. Review of City activities and planning efforts including:
• Comprehensive Master Land Use Plan
. Wadsworth Corridor Study
. Zoning Codes (including City staff reviews and proposed amendments)
• Community/neighborhood meeting minutes and related information
. Specific land use concepts generated either internaily or as previously
submitted by outside parties
• Other pertinent identified data through the City and WRURA interviews
4. Research economic and demographic data to establish the base case, populate an economic
and fiscal impact development simulation model for evaluating redevelopment scenariosi,
and for use in marketing materia(s to business/redevelopment prospects. The development
model wil( be provided to the City for its future use in evaluating specific development
proposals as a result of this feasibi(ity study.
5. Evaluate retail and commercial business patterns to identify market opportunities and
evaluate real estate market demand.
6. Inventory pazcels and property characteristics with respect to real estate investment and
redevelopment opportunities: This information will be used as a basis to determine
development feasibility and to provide information to redevelopment prospects.
7. Conduct a real estate sub-market evaluation to identify existing supply, type, quality, and
occupancy costs. This information will be used as a basis to determine development
feasibility and to provide information to redevelopment prospects.
8. Characterize economic gaps that may impede business and real estate development and
identify "bridges" for these impediments. Bridges may include existing City programs, new
financial and technical grant sources, and reporting on existing models from other
jurisdictions.
9. Prepaze a mazketing brief that the WRURA can utilize in public communications and for
business and development prospects.
1 DRP's SiteStatsO model is available for review upon your request,
Developmenl Research Parln¢rs:.N?eeat Ridge i7R - RFQ:00.007
DETAILED DESCRIPTION OF THE EVALUATION PROCESS
It is the intent of the City of Wheat Ridge to evaluate the redevelopment potentiai of, and to
attract appropriate redevelopment to, approximately 36 acres located at the intersection of 44`h
Avenue and Wadsworth Boulevard. To assist Wheat Ridge in their efforts, Development
Research Partners (DRP) proposes to design redevelopment tools to enhance the quality of
neighborhood commercial services, increase property values, generate sales tax, eliminate vacant
and underused parcels, and generate employment.
The redevelopment process begins with the parcels in their current state and envisions a roadmap
to finai uses. A strategic approach to redevelopment necessitates an understanding of initial site
conditions, the implications of various reuse options, a strategy for achieving financial viability,
and the ability to attsact developers to undertake the project. DRP's approach to facilitating
redevelopment at 40 and Wadsworth includes the following phases:
n Identify the Base Scenario ("Do nothing" option)
To (1) provide a basis for evaluating community, fiscal, and economic impacts on the City from
altemative reuse scenarios, and (2) to develop property data for use by private enterprises to
understand the redevelopment opportunities and challenges presented. Analysis and reporting
wi(1 include:
a) Existing development and land uses in the general area
b) Demographic estimates for the neighborhood and surrounding area
i) population (neighborhood & area)
ii) income (neighborhood & per household)
iii) age-cohorts (neighborhood & per household)
iv) average household size & composition
v) school children multiplier (student yield)
c) Physical description of redevelopment parcels including size, dimensions, frontage,
access, ownership, existing improvements and condition, etc.
d) Economic & fiscal impacts of parcels in the cuttent use (jobs, wages, retail sales tax,
property tax to city & schoo( district, cost-benefit analysis)
Development Research Parlners: Wheat Ridge UR - RFQ 00-007 3
In Evaluate Reuse Opportunities (`Bedevelopment" option)
Redevelopment is desirable to enable the area to achieve its full economic potential and to
enhance commercial goods and services available to the neighborhood. The feasibility of
altemative site uses are evaluated to develop financial mechanisms and programs to facilitate
redevelopment by private enterprise. Analysis and reporting wiil include:
a) Implications of the Comprehensive Plan, infrastructure improvements and other City
activities on the outlook for the neighborhood and suttounding area
b) RetaiVCommercial Development Feasibility Analysis
i) retail demand analysis
(1) retail purchasing power (neighborhood consumption/purchasing power per
acre estimates)
(2) consumer expenditure pattems by demographic sector
(3) supportable gross leasable space
real estate market analysis
(1) existing inventory, rental rates, and vacancy (neighborhood and sunounding
area)
(2) undersupply/oversupply ofspace
(3) construction cost estimates
(4) test of viability to identify feasibility gaps
c) Economic & fiscal impacts on the City of pazcels as redeveloped (jobs, wages, retail sales
tax, property tax to city & school district, cost-benefit analysis)
d) Cost-Benefit analysis to evaluate the City's altematives for incentives and other partnering
such as providing infrastructure, tax increment financing, financial enhancements, and
utilizing federal grants and resources.
Devefopment Research Parlners: Wheat Ridge UR-RFQ 00-007
4
T.In Prepare a Marketing Brief for Private Enterprises Interested in Redevelopment/Reuse
("private enterprise redevelopmenP' option)
Background information, market data, an evaluation of development potential, and possible
public/private partnering options are presented as a starting point for prospective businesses and
redevelopers.
a) Introduction (overview of current conditions, Wheat Ridge's economic and community
goals, and the opportunity)
b) Metro Denver Regional Economic Overview- (demographic, business, real estate trends &
opportunities)
c) Neighborhood and surrounding area economic overview- (demographic, business, real
estate trends & opportunities)
i) neighborhood's position in, and relationship to, the surrounding metropolitan
employment, housing, and consumer mazkets
d) Redevelopment property description- (ownership, occupancy, physical condition, site
conditions, environmental conditions)
e) Development Proformas (possibly including City investments and enhancements)
f) Presentation of other City possible financing, enhancements/incentives, and other
partnering mechanisms.
Development Research Pardrers: N'leeat Ridge UR - RFQ 00-007
THE DEVELOP_MENT RESEARCH PARTNERS TEAM
The term economic development means varying things to different users and their audiences. To the
local chamber of commerce, the economic development practitioner, or the community, the purpose
and direction of economic development initiatives can vary. However, the overall objectives are
almost always the same; to facilitate the creation of new economic opportunities for the community.
However, job creation and tax base improvement are not the only outcomes of a well-crafted and
executed strategy. A successful initiative should also improve a region's overall economic health,
improve its ability to manage change, and create a sense of community and pride. DRP's team includes
economic development practitioners and professionals with deep collective experience in real estate,
economic development and community planning:
Patricia L. Siiverstein, President
Ms. Silverstein's expertise is in economic research and economic development, including site location
analysis, industry studies and strategic economic development planning. She has extensive experience
in preparing economic impact and fiscal impact analysis for community development purposes. In
addition, she serves as the consutting chief economist for the Denver Metro Chamber of Commerce.
In this role, she compiles, interprets and forecasts economic and demographic data for the Denver
metropolitan area and performs in-depth research on issues and proposed developments impacting the
region. She writes a monthly column on economic trends and statistics for the Denver Rocky Mountain
News, delivers numerous speeches on local economic conditions, and is widely cited in Denver's
media. Ms. Silverstein holds a Bachelor's Degree in Economics from Nebraska Wesleyan University
and a Master's Degree in Economics from the University of Colorado at Boulder.
Jesse D. Silverstein, Principal
Mr. Silverstein's expertise is in preparing economic and real estate-related analysis. He has extensive
experience in developing economic development strategies, real estate market analysis and feasibility
studies. His expertise includes redevelopment analysis for environmentally impaired property. W.
Silverstein's prior employment includes positions as Director at Equitable Real Estate Investment
Management and Chief Appraiser for the Resolution Trust Corporation (FDIC) in Washington, D.C.
He is actively involved in organizations including the Denver Association of Business Economists and
Denver Metropolitan Commercial Association of Realtors. Mr. Silverstein holds a Bachelor's Degree
in Economics from the University of Delaware, a Master's Degree in Economics from the University of
Colorado at Boulder, and is an MAI designated member of the Appraisal Institute.
Karen B. Lecker, Research Analyst
Ms. Lecker's expertise is in economic and demographic analysis, especially as it relates to urban and
regional planning. While completing a Master's Degree in Urban and Regional Planning from the
University of Co(orado at Denver, Ms. Lecker served as an intern with the Arapahoe County Planning
Division. In addition, she holds a Paralegal Certificate from the Denver Paralegal Institute and a
Bachelor's Degree in Economics from Colorado State University.
Development Research PtrY[ners: WherR Ridge UR - RFQ 00.007 ' ' 6
CREATING PARTNERSHIPS AND SUPPORT FOR FEASIBILITY STUDY
RECOMMENDATIONS
A revitalization effort requires many partnerships and support networks. Some of these relationships
have undoubtedly already been forged, given the successful revitalization some of the urban renewal
area. Other relationships may need to be nurtured to complete the revitalization task.
Relationships can be internal between City departments and staff, external as with public-private
partnering or contracting for services, or intergovernmental as in federal or state grants to support local
efforts. Existing relationships will be reviewed as part of our interviews with City and WRURA staff.
Interdepartmental relationships will be considered as we review planning documents. Still other
relationships to support the resulting revitalization strategy will be identified through the course of
completing the scope of work.
DRP's professional relationship with the City will be initially established at our intecview for this
proposal. DRP is committed to providing professiona( research services based on a philosophy of
detailed and reliable analysis, concise and timely reporting, regular and responsive communication,
and confidentiality.
RESOURCES REOUIRED TO COMPLETE THE FEASIBILITY STUDY
Providing quality research and useful reporting requires resources from a variety of sources. Data costs
have been included in the fee schedule quoted herein.
City and WRURA Staff Resources: Our goal is to understand and utilize the existing City and
WRURA base of research, knowledge, and experience to make our work as cost-effective as possible.
To minimize City and WRURA staff time and resources devoted to this effort, we will efficiently
organize our interview process to quickly assess the existing knowledge base and implementation
strategy.
Primary Data: The nature of this project necessitates the first hand collection of information
pertaining to existing land uses, topography, neighborhood characteristics, real estate market factors,
and other similaz data.
Secondary Data: Secondary data sources will be used when appropriate and my include, but
necessarily limited to, U.S. Census Bureau demographic and business data series, County Business
Patterns, U.S. Bureau ofEconomic Analysis data series, Consumer Expenditure Survey, CACI
demographic data, Dun & Bradstreet, InfoUSA data, and other data sources as necessary.
Development Research Partners: Wheat Ridge UR - RFQ 00-007
SIMILAR PROJECTS COMPLETED & REFERENCES
♦ Development Research Partners has recentiy (February 2000) completed a land use study for the City
of Englewood, Colorado, comparing the fiscal and economic impacts generated by four distinct
development scenarios for a high profile parcel within the City. Impacts from land use as well as
from possible business operations on-site were evaluated including quality and number of jobs
created, housing demand, demand for business-to-business goods and services, and affects on local
retail demand. Reference: Mark Graham, Senior Planner, Community Development Department, City
ofEnglewood, 303-762-2353.
♦ Development Analysis of Proposed I-25 Interchanges, 1998, an outlook for types of development
and related fiscal impacts relative to alternative placements for a new interchange; a comparative
approach evaluating the rate of urban-edge growth and land development patterns at eafisting
interchanges; prepared for the NorthMetro Chamber of Commerce. Reference: Alan Windmiller,
Finley & Company Real Estate, 303-451-4397.
♦ Economic And Fiscal Impact of the Proposed Ryland Homes Development, October 1999, located
in Bennett, Colorado, prepazed in partnership with John M. Mullins & Associates for Ryland Homes.
Reference: John M. Mullins & Associates, 303-683-9382.
♦ Economic and Community Impact Studies of Redeveloped Sites (October 1999), evaluated the
economic and community impacts of Vofuntary Cleanup activities at two Colorado brownfields sites.
Reference: Mark Walker, Voluntary Cleanup Program, Colorado Department of Pub(ic Health &
Environment, 303-692-3449.
♦ Development Research Partners established a housing needs assessment in the south metro Denver
area by analyzing the employment base, salary levels, current and projected housing stock and prices,
commuting pattems, household income levels and demographic trends of the area. This study,
completed in April 1999, presented a pioneering approach for examining the inter-relationship
between job growth and the level of housing development, increasing the awareness of the importance
of housing in economic development efforts. References: Peter Neukirch, Southeast Business
Partnership, 303-792-9447; Brian Vogt, South Metro Denver Chamber of Commerce, 303-795-0142.
♦ Development Research Partners designed and customized economic and fiscal impact models (July
1999, March 2000), for the Jefferson Economic Council to evaluate the comparative strengths of
various business and real estate development opportunities. References: Holli Baumunk or Tom
Clark, Jefferson Economic Council, 303-202-2965.
♦ Business Development Research Task Force and Implementation Program, in progess,
conducted a focus group of economic and deve(opment professionals from the Metro Denver Network
(metro region) to identify appropriate research and information products with which to conduct
business development activities; conducting research and preparing documents at the direction of the
task force. Reference: Joe Snell, Economic Development Director, Metro Denver Network/ Denver
Metro Chamber of Commerce, (303) 620-8075.
♦ Development Research Partners is currently providing advisory services to the City of Lakewood in
their efforts to attract business and development to environmentally impacted sites within various
revitalization corridors identified by the City's Community Development Office. Reference: Brian
Nielsen, Environmental Ivfanager, City ofLakewood, 303-987-7192.
Dwelopment Research Parheers: Wher# Xidge UR- RFQ 00-007 8
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City of Wheat Ridge ~ Po
Planning and Development Department U m
Memorandum
TO: Wheat Ridge Urban Renewal Authority Members
FROM: Alan White, Planning and Development Director (XW
SUBJECT: Northem Portion of UR A- Economic Impact Model
DATE: June 15, 2000
At last month's WRURA meeting, a motion was approved which directed staff to develop a
model for the northern portion of the i_JRA which would farecast a proposed developmenYs
impact to the City. The model we propose to use is the Insight model developed for the Jefferson
Economic Council. The model enables us to project revenues and costs to the City for a variety
of development scenarios.
In discussing the use of the model with JEC staff, we determined that in order to use our time
and resources efficiently, we should wait until we have the results of the market feasibility
analysis before proceeding with plugging development scenarios into the model. It would also
be useful to have a conceptual site plan so that if a certain use is feasible, we know it would "fiY"
in the area. Any input into the model now without an idea of whaYs feasible would not be useful
to us in the long run.
While the mazket analysis is underway, we will be working with JEC staff to customize the
model for Wheat Ridge - setting the proper taac rates, calculating police protection costs,
estimating infrastructure costs, and developing similar information that is required for the model.
C:VvlyFiles\WPFiles\EDARCVnodel memo.wpd
OF WNEqT
City of Wheat Ridge ~ Po
Planning and Development Department U m
Memorandum
TO: Wheat Ridge Urban Renewal Authority Members
FROM: Alan White, Planning andDevelopment Director (XA
SUBJECT: Property and Sales Taac - Northem Portion of Urban Renewal Area
DATE: June 14, 2000
Sales Tax Base
The sales tax base was computed based upon the annual sales tax receipts collected in the entire
urban renewal area during the year preceding the effective date of the original plan for sales tax
increment financing. The effective date was January 1, 1982. The sales tax base was established
as $528,330.00.
The sales tax base for the northern portion of the urban renewai area was $442,879.00 in the base
year 1981. In 1999, sales tax receipts for the northern portion of the urban renewal uea totaled
$394,024.00. This results in a sales tax decrement of $48,855.00 in the northem portion of the
renewal area.
Under an agreement with the City, EDARC (now WRURA) receives the lesser of $100,000.00 or
the sales tax increment generated from the entire urban renewal azea. The amount received has
been $100,000.00 since 1985. In 1999, the sales tax increment in the entire wban renewal area
was $138,178.00.
Property Tax Base
The effective date of the original Urban Renewal Plan for tax increment financing purposes was
January 1, 1982. The base year for property tax valuation was established as 1981. Establishing
the property tax base for the northern portion of the urban renewal area is not possible. In 1986,
state law required counties to reassess property every rivo yeazs. Thus, the property tax base
amount for the urban renewal azea has been increasing due to reassessments since 1981.
However, the County Treasurer adjusts the assessed valuation to account for the reassessments in
computing the base amount. Since 1981, changes in the assessed valuation in the northern
portion of the urban renewal area are due to new construction and reassessments based on
property purchases.
In 1999, the assessed valuation of the entire urban renewal azea was $8,252,180.00. The 1999
base value was $5,197,200.00. Subtracting the assessed valuation of the southern half of
$3,061,780.00 from this base value for the entire azea results in an assessed valuation of
$2,135,420.00 for the northern half.
The increment value of the entire urban renewal azea in 1999, based on 1998 value, was
$3,054,980.00. Since the base year 1981, the significant changes in the assessed valuation in the
northern portion are the construction of the First Bank and Makatura buildings. In 1999, the
assessed valuation of these two properties was $1,275,800.00. With other changes in the area,
the northem portion contributes an estimated $75,000.00 to the tota] area increment oF
$3,054,980.00
Summary - Northern half of Urban Renewal Area :
Base Year (1981)
Assessed Valuation
Sales Tax
$ n.a:
$ 442,879.00
C:U1p?iles\WPFilesV'mjects\amendum\ptl&sfi memo.wpd
1999 Increment
$2,135,420.00 ; $75,000.00 (est.)
$ 394,024.00 ($48,855.00)
I
r WHEAT RIDGE TOWN CENTER NORTH
PARCEL DATA
1. 4350 Wadsworth
8. 4100 Wadsworth
Size: 3.248 acres
Size: 1.97 acres
Zoning: C-1 & R-C
Zoning: PCD
2. 4300 Wadsworth
9. 7340 West 44"'
Size: 0.7660 acres
Size: 0.0260 acres
Zoning: C-1 & R-C
Zoning: C-1
3. 7540 West 44"' Ave
Size: 1.556 acres
Zoning: C-1 & R-C
10. 7340 West 44`n
Size: 4.166 acres
Zoning: PCD
4. 4184 Wadsworth
Size: 9.394 acres
Zoning: C-1
5. 4084 Wadsworth
Size: 0.455 acres
Zoning: C-1
6. APN:39-234-04-005
Size: 0.70 acres
Zoning: PCD
11. 7300 West 44`h
Size: 0.23 acres
Zoning: C-1
12. 7540 West 44`n
Size: 3.204 acres
Zoning: C-1 and R-C
TOTAL ACREAGE: 26.3
7. 4020 Wadsworth
Size: 0.592
Zoning: PCD
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PARCEL DATA
1.
4196 Yarrow Street
6. 4275 Wadsworth Blvd.
Size: 0.891 acres
Size: 0.183 acres
Zoning: R-C
Zoning: R-C and C-1
2.
4200 Yarrow Street
7. 7770 West 44`h Avenue
Size: 2.084 acres
Size: 0.856 acres
Zoning: R-3
Zoning: C-1
3.
4301 Wadsworth Blvd.
8. 7700 West 44`h Avenue
Size: 0.723 acres
Size: 0.905 acres
Zoning: R-C and C-1
Zoning: C-1
4.
7610 West 44`" Avenue
9. 4203 Wadsworth Blvd.
Size: 2.202 acres
Size: 0.722 acres
Zoning: G1
Zoning: C-1
5.
4315 Wadsworth Blvd.
Size: 2.27 acres
TOTAL ACREAGE: 10.836
Zoning: C-1
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44tn Ave & Wadsworth Blvd SW ~~~er~~~~ arcels 0 50 0 Feet
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