Two development companies owned by Adam Wertz are planning to redevelop the properties at 1727 and 1737 Pearl St. into a three-story commercial and residential mixed-use project, according to documents submitted to the Boulder Planning Department. One of the buildings is now home to Red Letter Books, whose owner said he hopes to remain at that location after redevelopment, but will explore relocating if necessary to remain in business. (Cliff Grassmick / Staff Photographer)

BOULDER — A pair of adjacent retail spaces at 1727 and 1737 Pearl St. in Boulder could soon be transformed into a three-story commercial and residential mixed-use project, according to plans set to be reviewed this week by city officials.

The plan, which is being developed by Boulder local Adam Wertz’s 1737 Pearl LLC and 1727 Pearl Boulder LLC, calls for the demolition of two existing buildings and the construction of a new 28,222-square-foot structure with nearly 9,500 square feet of retail space and a public courtyard on the first floor and 14 apartments on the second and third floors.

Parking will be added in an underground garage accessed by an auto elevator in the building’s alley.

Current zoning allows for shops on the first floor, but planning documents indicate the potential for the developer to request a land-use change that would allow for restaurants, brew pubs or banks.

An artist’s rendering shows the exterior of a planned mixed-use redevelopment at 1727 and 1737 Pearl St. in Boulder. (Courtesy Boulder planning documents)

The existing building at 1727 Pearl St., built before 1940, was the former home of Top Hat Supply. The janitorial supply relocated last year out of the space it had occupied for more than 50 years. The 1737 Pearl St. space, built in 1966, is home to second-hand book shop Red Letter Books.

Boulder County property records show the 1727 Pearl St. building was purchased last year for $2 million and the 1737 Pearl St. space traded in 2017 for $1.925 million.

1727 Pearl Boulder LLC is registered to the Boulder address of the Colorado Sleep Institute, of which Wertz is a co-founder. Wertz could not be reached for comment.

The redevelopment plan has left Red Letter Books owner Seth Rowland unsure about the store’s future in its current location.

Rowland said in an email to BizWest that he has been “met with silence” when he’s asked the property owner about the redevelopment project.

“We would love to remain in our current location, but that does not appear likely,” he said. There are other nearby retail spaces where Red Letter could potentially relocate.

The project is scheduled to go before Boulder’s Planning Board on Thursday for a site review. If ultimately granted a building permit, the developer plans to start construction immediately and complete the project in about 18 months, according to a memo submitted to city planners.

© 2020 BizWest Media LLC

blog comments powered by Disqus