Residential Units, FirstBank, 2nd Roundabout Planned Around New City Market

May 3, 2018

As work begins for building the new City Market, details are emerging about plans for the surrounding property. KDNK’s Raleigh Burleigh has more.

On Wednesday, May 2, Briston Peterson spoke at the Carbondale Rotary Club representing MSP I LLC, a group of investors that own 3 strategic holdings in the Roaring Fork Valley. These include 18 acres North of Basalt High School, east of South Side Drive where the ownership group hopes to build 113 affordable housing units; 10 acres at 4th and Merrill in Carbondale, the industrial park near Town Hall; and 24 acres on the West side of highway 133, North of Main Street.

8 acres of this third holding were sold to Kroger for the new City Market Development, phase 1 of the overall vision for these 24-acres.

Peterson shared that the 60,000 square ft City Market with a 7-pad gas station and 2-lane drive-in pharmacy will be a flagship store for Kroger with many green modalities, including a vertical garden wall. The store is expected to open by Fall of 2020.

Adjacent to this new City Market, the group plans to build a 10,000 square ft retail space, 1.4 acres are slotted for a new FirstBank, and ACE Hardware might also be developing a new building on the 24-acre parcel. Within 10 to 20 years MSP I LLC would also like to develop residential units, including affordable apartments and free market condominiums, as well as additional retail spaces, bordering West Main Street.

Concerning the old City Market, Peterson shared that Stan Kroenke, an Aspen billionaire married to Ann Walton, daughter of Walmart co-founder James Walton, acquired the entire Crystal Village Plaza and has announced no plans for development. The Kroenke Group also purchased several buildings in the Willits Town Center, including the Whole Foods and Starbucks buildings.

The main turn-off for the new city market will be across highway 133 from Industry Way, which will eventually connect to 8th street.  At this highway intersection, according to Peterson, the Town of Carbondale and the Colorado Department of Transportation want to eventually create a new round-about, a feature that Kroger has already invested in.

For KDNK News, I’m Raleigh Burleigh

Credit MSP I LLC