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|Project: Gateway Timnath, CO (I-25 and Harmony exit 265)
Location: East side of I-25 and Harmony Road, Timnath, Colorado
Goldberg Properties Entity: Goldberg Timnath, LLC
Style of Project: Power Center
Size: North: 223,912 sqft
Total Project Cost: North: $2,500,000
Land Area: North: 30.4 Acres
South: 50 Acres
Substantial Completion: North: 1st Quarter 2009
North: Wal-Mart has closed on their 22.62 acre site and the JV entity owns the remaining six out parcels. Through the annexation agreement, Goldberg is responsible for completing extensive water, sewer, and roadway infrastructure adjacent to the site. Goldberg worked closely with the Town of Timnath to issue $25,000,000 in bonds that will pay for several miles of sanitary sewer to serve the project and the Town, major roadways and bridgeworks. The intent is to land lease five of the six pads and build approximately 12,000 square feet of shops on the remaining pad.
South: This project will be an assemblage of three different properties and approximately 50 acres. The property is on the southeast corner of I-25 & Harmony Road. We believe strongly in this intersection and the community of Timnath and feel that over the near term and especially over the long term, the intersection of I-25 and Harmony will be a very active and vibrant place to develop and own real estate.
Currently we are marketing this entire site to anchors, mid-size boxes, and pad users. We have a number of other tenants and buyers interested in the South side, and it will continue to be a focus for Goldberg.
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