In the next 18 months, construction could begin on a project that could transform the southwest block of 30th and Pearl streets in Boulder.
Denver developer Dan Otis, a partner in an entity that this week acquired four properties off 30th and Pearl for $11.2 million, said Wednesday that initial plans for the site call for retail and office uses and possibly a hotel or high-end senior living residences.
The 5-acre site that spans the properties of 2095 30th St., 2011 30th St., 2920 Pearl St. and 2930 Pearl St. is targeted for a variety of uses, primarily retail and offices, Otis said.
"We're talking to a number of large office users for possible build-to-suit (developments)," he said.
In addition to retail and office, Pearl Place Associates also is considering building a hotel on the site or 200 to 220 units of luxury senior housing units, he said.
Otis estimated the site could accommodate 400,000 to 500,000 square feet. The project will be a by-right development, and Pearl Place Associates will not be pursuing any rezoning, he said.
"You've got this just amazing compilation of amenities around there," he said. "That offers and lends itself to a lot of different uses. ... It's a very unique, legacy location."
The current zoning of the properties could allow for even greater density and square-footage, but Otis said he does not envision Pearl Place Associates would go that route.
Pearl Place Associates has conducted pre-application discussions with the city of Boulder's planning office, he said.
No documentation had been submitted to the city as of Wednesday, said Michael Banuelos, a city spokesman.
A concept review application could come this fall, Otis said, adding that he anticipates that the entitlement process could take a year.
The group could break ground about 12 to 16 months from this fall, he said.
Contact Camera Business Writer Alicia Wallace at 303-473-1332 or email@example.com.