Serves as Poster Child for How Process Should Work
GLENDALE, Colo. – In the latest step forward to making the Glendale 180 Project a reality, the City of Glendale successfully negotiated the purchase of property located at 4490 E. Virginia Ave. owned by the Gamma Construction Company.
The negotiations between the city and Gamma Construction resulted in mutually-agreeable terms without the threat of condemnation. The city purchased the property and will lease it back to Gamma Construction until they need to occupy it in order to begin development of the project.
“The interaction between the City of Glendale and Gamma Construction was very positive,” said Glendale Mayor Mike Dunafon. “This negotiation is the poster child for how the urban renewal development process should work.”
Gamma Construction’s president Keith Williams said, “We are pleased with the outcome. The city was true to its word and the negotiation and subsequent closing were quick and straightforward.”
Glendale’s City Council approved the sale on September 15 and the deal closed this week.
About Glendale 180:
Glendale 180 is a dining, entertainment and retail hub that will encompass more than 270,000 leasable square feet, including a hotel. The $150 million project will reflect the active outdoor lifestyle that Coloradans cherish and solidify Glendale as a tourist and business traveler destination.