SRC Selects Master Developer

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Mansur President Chuck Cagann
Photo by Jay Thompson

(posted Dec 3)


The Speedway Redevelopment Commission called it a "big step" in the redevelopment process at its Dec 3 meeting that named Mansur Real Estate Services and Green Street as the master developer. The master developer's function is to oversee the future growth of the Speed Zone area. SRC President Scott Harris indicated they would be ready to "hit the ground running this week" with Mansur, but did not state what the first steps would be.

SRC member Steve Bishop assured the public that a considerable amount of time and evaluation were given before the selection. He said that Mansur's projects match what the SRC is trying to do. He called it a major decision that required a lot time and evaluation.

Commissioner Ron Fisher abstained from the vote because said he knew all three firms and all were reputable. The other two firms in contention were Browning Investments and Paragon.

Mansur President Chuck Cagann said that Jeff Kingsbury of Green Street was responsible for orchestrating the "Stapleton Project" in Denver. Stapleton was the redevelopment project as a result of decommissioning the airport into a mixed use project. Kingsbury was involved with the development of retail and subdivisions. Cagann said the Stapleton Project has many similarities to that of the Speed Zone's plan.

The SRC also unanimously agreed  to a $36,300 contract with American Structurepoint to survey the area for easements to extend the Gilman Street to Polco Street as well as evaluate Praxair's lime pile.

SRC member Vince Noblet said the aerial photos do not accurately convey the height of the pile that probably reaches 20 feet tall. "I was shocked," Noblet said as he described his personal assessment of the site. The lime pile has become an issue in redeveloping the area since it lies in the path of the proposed Gilman extension and the central utilities complex
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Shane Burkhardt of American Structurepoint said that core drilling is needed to make sure the base of the lime pile is not below grade level. Praxair is expected to pay for the core drilling. He also wanted an analysis to see if the lime could be used in road development.

Fisher wanted to know if the same environmental firms involved in the brownfield study could be included this project. American Environmental Corporation, BCA, and Sustainable Solutions were awarded the contract for the EPA brownfield study.

Noblet indicated so far the lime is not classified as a brownfield but that no one is sure what has been deposited in the pile over its lifetime, so that could open the door to use the brownfield grant money.

The SRC is expected to expand the Speed Zone in January. The November goal to expand the area had to be delayed because of legal counsel's opinion that the IMS needs to separate a larger parcel into smaller parcels before including the area into tax increment financing district. The SRC can't subdivide a parcel to be included in the tax increment financing district. The SRC will proceed with the other area to include 16th Street to Cord Street and northwest corner of Georgetown Road to include the manufactured homes, but excluding the northeast corner of 16th and Georgetown Road.

The SRC renewed the bond anticipation note of $2.995 million. Harris said the amount increased from last year's amount of $2.5 million because the SRC has now a master plan and TIF revenue stream.