Foothills mall redevelopers to share concepts at open house next week

FORT COLLINS — The owners of Foothills mall in Fort Collins will share design concepts next week that include what is described as “an urban-scaled neighborhood and lifestyle district that is rooted in the culture and community of Fort Collins.”

The owners of the mall are McWhinney Real Estate Services Inc., based in Loveland and Denver, and Prism Places Inc. based in Venice, California.

McWhinney and Prism bought the mall out of foreclosure in June 2021 for $45 million. The previous owner, Walton Foothills Holdings VI LLC, defaulted on a $145 million loan with $46.59 million left in principal and interest.

The two new owners have been working since that time on redevelopment plans, including hosting public meetings to gather information about what the community might want from what was at one time the centerpiece of retail commerce in Northern Colorado. 

Also since that time, McWhinney bought the Fort Collins Marriott hotel at 350 E. Horsetooth Road for $29 million. The five-acre site for the Marriott is immediately south of the 15-acre Foothills property.

And last month, the 128,000-square-foot Macy’s department store at Foothills closed as part of that national company’s restructuring.

In a press statement provided to BizWest late Friday, McWhinney said that a community open house would be conducted Saturday, April 15, to share potential redevelopment plans. “Adaptive reuse” includes space now occupied by the enclosed mall, several free-standing single and multi-tenant buildings “as well as metro-district owned parking facilities along College Avenue and Foothills Parkway,” the statement said.

The public open house will display renderings that detail “the current site and options to convert the traditional indoor mall into a vibrant, walkable, mixed-use destination. The goal of the revitalized approach is to enhance the lifestyle of local residents by integrating green open spaces, modern design inspired by nature, and dynamic retail that includes restaurant and bar options.”

Clyde Wood, vice president of commercial and mixed use at McWhinney, called the redevelopment “a transformative project, not another mall redo. We’ve had the opportunity over the first year and a half of our ownership to take an honest inventory of what’s working and what’s not. We’re excited to now present our preliminary ideas for how we intend to revitalize this significant property into a thriving, mixed-use district and retail destination. The goal is to prioritize the resident and pedestrian over the car with a focus on landscaping, sustainability and communal gathering.”

Stenn Parton, president of Prism Places, expressed similar sentiments. “We look forward to converting the mall into a vibrant mixed-use district that integrates curated retail offerings, chef-driven restaurants, and a trail of public spaces that stitch together the district.”

The open house event will be in the central indoor area of the mall (next to Lima Coffee), 215 E. Foothills Parkway, from 11 a.m. until 2 p.m. April 15 and include both indoor and outdoor activities.

Source: BizWest

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