95th/Pascal Dr. Development Approved

Louisville approves shops, offices, condos at northern border

By Beth Potter      Staff Writer      Posted:   01/20/2016 05:59:47 PM MST | Updated:   about 14 hours ago

The Foundry development — a building of shops and offices next door to 32 condominiums — has been approved for the southwest corner of Paschal Drive and Colo. 42 in Louisville.

The City Council on Tuesday unanimously approved the project on a 5.8-acre piece of land. The council added several conditions to the approval, including that 24 of the condos must be age-restricted to buyers who are over 55.

The Source artisan food market in Denver was the inspiration for the Foundry, said Justin McClure, developer of the planned development. The Source, 3350 Brighton Blvd. in Denver, is in a historic brick foundry building. The Foundry plans include high windows and a corrugated metal exterior.

McClure said local entrepreneurs already have contacted him about leasing space, although none have committed so far. He said he is looking for tenants such as brewpubs, bakeries, coffee shops and butcher shops.

On the residential side, three-story condos with views to the west will be marketed to “empty nesters,” McClure said.

The 37-year-old developer said that while he doesn’t fit into the empty-nester age group, he’s focused on that demographic, in part, because he and his wife would be interested in buying a condo in the neighborhood once his daughter heads off to college.

Several nearby residents spoke in favor of the project and praised McClure for responding to their requests not to put a gas station on the site.

Nearby resident Peter Wengert said he supports The Foundry, saying that the layout of the project will give people a chance to walk rather than drive.

“This is a beautiful entry point (from) the north,” Wengert said. “People are going to say Louisville is a good place to come to.”

Resident Gary Larson said The Foundry plan has an open atrium space in its center, which would make a good community gathering space.

Once they’re built, the condos could sell for about $600,000 each, based on comments made at the meeting.

Mayor Pro Tem Jeff Lipton said he knows many residents don’t want to see any more high-density residential areas get approved.

Lipton said he is frustrated that the city has not wrapped up “small area plans” that will guide future development in the South Boulder Road and McCaslin Boulevard corridors. Such planning documents could offer officials more “tools in the toolbox” to help them make development decisions, he said.

Your Board  recommends that you keep informed on developments along the 95th Street corridor. Commercial development is coming between Paschal and Baseline Road and our community can affect a favorable outcome Homeowners who are interested in further information regarding development at the 95th/Paschal property should view the discussion on the web visit https://groups.google.com/d/msgid/95th-corridor-coalition/705142583.574108.1453394423359.JavaMail.root%40md37.quartz.synacor.com.