$275 million development project in downtown Parker moving forward

Confluence’s recent redevelopment projects in downtown Castle Rock, including a $72 million mixed-use condo project called Encore and a $65 million mixed-use apartment community called Riverwalk Castle Rock.

After seeing what Confluence had completed in Castle Rock, DeSimone said Parker’s council members and economic development director asked him to consider bringing new life to their own town.

On what amounts to five parcels of mostly vacant land located along Mainstreet (and just east of it) owned by the town, Confluence worked to create a complete master plan for redevelopment.

In the past, Parker has worked with other developers on a parcel-by-parcel basis. For example, Greenwood Village-based UDC Miller tried to buy and develop the largest 24-acre parcel, but the deal fell through in 2020, according to previous Denver Business Journal reporting.

DeSimone said Confluence stood out to the town for laying out a cohesive plan for redeveloping all five parcels. Although the land is much larger than what Confluence redeveloped in Castle Rock, DeSimone said Confluence’s approach to the Parker project has been similar.

“We’ve found success developing mixed-use projects, where we bring in a residential component and the residential component helps subsidize the restaurant space in the retail to make it affordable to attract the right retail and restaurateurs,” DeSimone said.

DeSimone said the new buildings will help keep more people coming to downtown Parker and spending time there while enhancing the west side of Mainstreet.

“It’s their more historic section of downtown Parker, but as you head to the east, there’s just a lot of vacant land. So we see a lot of opportunity to help … create walkability,” DeSimone said.

The Parker Arts, Culture & Events Center was already a benefit to the area, but DeSimone said walkable restaurants and places to go before and after shows at the center were missing.

“As part of this project, we’re trying to enhance that entertainment zone, and then also create a public plaza, restaurant zone and place to hang out before and after you go to the PACE Center,” DeSimone said.

Confluence Companies is set to close on the land on Dec. 14.

Here is what Confluence plans to build on each section of land, which will need individual site plan approval:

1. On the schoolhouse parcel and a parcel across the street (B & F), Confluence plans to build two two-story office and retail buildings, totaling 10,000 square feet and 28,000 square feet.
2. On two other parcels (D & E), Confluence plans to build 36,000 to 50,000 square feet of commercial space, one restaurant, 120 residential units, a public plaza and a parking structure.
3. On the East Main parcel, Confluence has proposed 300 residential units, along with 19,000 square feet of retail space. This will be the first phase of the project.
4. On the largest parcel (known as Pine Curve), Confluence is planning to build 25,000 to 34,500 square feet of commercial space, 154 residential units and a public park.

DeSimone hopes to attract local businesses and restaurants into the coming retail spaces. In total, the new development will create between three to four new restaurants.

“It’s our goal in a situation like this to really work with small business owners and local Colorado businesses to get in here because we believe that really maintains the authenticity that downtown Parker has as opposed to working with big national teams,” he said.

It’ll take eight years before the entire project wraps up, according to DeSimone, with the first phase delivering approximately three years from now. Crane Architecture is the architect, while Confluence will be its own general contractor as well as the property manager.

In addition to Parker and Castle Rock, Confluence is actively developing other suburbs around Denver, including Golden, Longmont and Englewood.

“We’re really focused on the suburban market in Colorado because we do a really good job placemaking. We feel like there’s just some great opportunities to create great walkability in the suburbs and create exceptional places,” DeSimone said.

Read this article by Kate Tracy in the Denver Business Journal