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April 2015
In This Issue: 

Titan Machinery Opens New Locationtitan

Titan Machinery is now open for business at their new location at 9600 E 104th Ave. and is celebrating with an open house 7 a.m. - 5 p.m. on Friday, May 1. The company sells and rents new/used construction and agriculture equipment at their 13,944 sq. ft. location, providing parts and service support with over 84 employees. The city's economic development team helped with site selection and other services to keep Titan Machinery in Commerce City. 

Industrial Market Booming - Major Growth on 56th Ave.industrial

Commerce City's industrial market is booming. According to CoStar Realty Information, Inc. the city has a little over 9 million square feet of warehouse distribution and other industrial space, with a 1.1 percent vacancy rate in the fourth quarter of 2014, compared to the 2.6 percent vacancy rate for the the same time period in 2013.

One of the most active industrial corridors in Commerce City is along 56th Avenue. From A.R Wilfley & Sons' new 121,101 sq. ft. facility at 5650/5670 E 56th Ave. to Old Dominion Freight Line's Inc. 3,000 sq. ft. IT center expansion at 5601 Holly, low vacancy rates have brought back speculative development.

KEW Realty is in the process of constructing two spec buildings next to an existing building at 5700 E 56th Avenue. The two buildings are 50,000 sq. ft. and 35,000 sq. ft., respectively. KEW Realty expects the buildings to be completed by the end of the year.

The UPS Ground Freight facility at 5300 E. 56th Ave. plans to expand their dock area by 18 doors bringing more than $1.3 million in capital investment to Commerce City and contributing to the growth in the active industrial corridor.

Legislative Update legupdate

With less than a week remaining in the 2015 state legislative session, more than 667 bills have been introduced in the General Assembly and more than 200 are still in an active phase of the legislative process. Commerce City identified three specific legislative priorities for 2015, two of which are important to advancing our economic development goals. 
  • Urban renewal & tax increment financing. The Commerce City Urban Renewal Authority prevents slum conditions and remedies blight creating vibrant infill spaces that offer a sense of community. Several urban renewal areas within the city are in various stages of redevelopment, from the former Mile High Greyhound Park to Victory Crossing. The work of the URA is far from finished; our ability to responsibly use and customize urban renewal and TIF tools to best fit the needs of each specific project is essential to achieve the city's vision. That's why the City supports SB 135, which preserves the ability to customize project financial packages while also providing counties with increased participation. Commerce City opposes HB 1348, which holds meaningful redevelopment projects hostage by counties who desire revenues for their general fund. Both bills have passed their respective chambers and await action.
  • Owner-Occupied, multifamily housing. Increasing the availability of multifamily housing units is consistent with the city's comprehensive plan and overall vision of building a vibrant and diverse community. Commerce City hasn't seen a new condominium/multifamily development project since 2008, despite having hundreds of acres of zoned multifamily parcels that are ready to go. Commerce City strongly supported SB 177, which would have made reasonable changes to the existing construction defects law to encourage new, for-sale multifamily developments, fostering conditions that will encourage builders to construct more diverse and affordable housing options within our community. Unfortunately the bill died on a party line vote in the House State Affairs Committee earlier this week. City Council will consider a local ordinance to address this issue during its May 11 study session.
You can learn more about legislation being tracked by the city as well as weekly updates during session by visiting c3gov.com/council.

Will Consuegra Joins the Economic Development Teamteam

There's a new face in the city's economic development division. Will Consuegra began mid-April as a senior economic development specialist. Consuegra will focus on the development and implementation of programs for the retention and expansion of high quality commercial and industrial businesses to the city. He is tasked with creating an outreach program for existing businesses and expanding programs for small businesses. He will also work on state recertification of the enterprise zone areas within the city.

Most recently, Consuegra served as an Economic Development Representative for the New Mexico State Land Office. He speaks fluent Spanish and has a law degree from the University of New Mexico. Consuegra can be reached at [email protected]. Please help us welcome Will Consuegra to the city!

Retail Cornerrc

  • According to the Colorado Real Estate Journal, The Shops
    at Reunion Marketplace
    was recently sold to a local buyer for $3.93 million, equating to $251.68 per square foot. The 15,595-square-foot center was 100 percent leased at the time of the sale including tenants Ace Hardware, Papa Murphy's, Sport Clips and Main Street Nails.
     
  • Reunion Smiles Dentistry and Orthodontics partnered with the Metro North Chamber of Commerce for their ribbon cutting ceremony on April 14 at 15151 E. 104th Avenue, Unit 103 in the Reunion Marketplace.

Sincerely,

 

Commerce City Economic Development Division
City of Commerce City
7887 E. 60th Ave
Phone:303-289-3620 

Upcoming Events

SBDC Workshops:

 

Start-Up Orientation (English)
Derby Resource Center

May 8

10 a.m. - 12 p.m. 
Register Online 

 

Start-Up Orientation (Spanish)
Derby Resource Center

May 22

1 p.m. - 3 p.m. 
Register Online

 

SBDC Midsummer Marketing Madness

Westminster SBDC 

May 19 - Aug. 12
Click here for more information 

 


Northern Treatment Plant Stakeholder Tour

Brighton- NW corner of Hwy 85 and 168th Ave.

May 30

9-11 a.m

RSVP by Tuesday, May 19 

Look Who's Moved In

Hodnet Creative


Impacto De Fe
World Impact Center