Deal closed, work begins on $80 million Fourth Street Crossing development in Silverthorne
This article was published in the Summit Daily on July 13, 2019 and written by Deepan Dutta.
The town of Silverthorne’s decade-long dream of building a vibrant, pedestrian-friendly, mixed-use ‘Main Street’ is about to be fully realized. Arvada-based construction corporation Millender White announced this week that it had closed the deal and started work on the $80 million Fourth Street Crossing development.
“We are thrilled to reach this milestone,” said Tim Fredregill, development executive for Milender White in a press release. “We’re grateful the Town selected us as its development partner on this project just over two years ago, and we look forward to delivering on the vision of a downtown in Silverthorne.”
The Fourth Street Crossing complex will be built between Third and Fourth streets off Highway 9, just north of the I-70 interchange. It will encompass 13 buildings across a 3.8-acre site spanning two blocks between Highway 9 and Adams Avenue, and will include a 29,000-square-foot market hall featuring drinks and dining.
The hall will also preserve the historic Old Dillon Inn building that had been shuttered for over a decade. The Mint Steakhouse, which traces its roots back to 1862, will also remain where it stands.
The development will also include a four-story 115-room hotel, two mixed-use buildings with 6,600 sq. ft. of retail and service space on the ground floor. The site will also feature “live/work” spaces with 57 condos and townhomes, with residential sales managed by realtor Slifer, Smith and Frampton. The complex will also feature a new transit center and four-story, 203-spot parking garage.
Once built, the Fourth Street Crossing is hoped to be the thriving “town core” Silverthorne dreamed of since 2007, when a Silverthorne community survey revealed that residents wanted a “real downtown” area that made the town feel more like a thriving, bustling community.
But then the recession hit, and plans for such a grand scheme were shelved. The idea was revived in 2011, and after much planning and several zoning changes, the groundwork was laid for the town to seek a developer for the project. The Town chose Millender White to start planning the project in 2017, and at long last the groundbreaking will take place this summer.
The Fourth Street Crossing will be constructed right across the street from the recently built $9 million Silverthorne Pavilion and Performing Arts Center complex.
“We’ve seen good things happening in our downtown on the east side of the Blue River Parkway, with a great locally owned restaurant and coffee shop, the pavilion and performing arts center, and now we can focus on matching those great amenities on the west side of the parkway,” Silverthorne town manager Ryan Hyland said back in March.
Planning and architectural partners with Millender White include DTJ Design, O’Bryan Partnership, Inc. and NEOstudio. Tetra Tech will provide civil engineering services.
Milender White, which is also serving as the general contractor for several scopes within the project, said it has started working on the property site, with an official groundbreaking ceremony to take place once demolition and clearing on the site is complete.
For more information about Fourth Street Crossing, contact your Slifer Smith & Frampton Real Estate broker.