Developer Confluence Companies has reached a redevelopment agreement with the Castle Rock Town Council to construct a mixed use, seven-story building in the downtown area.
The project, to be named Encore, will be located just south of Town Hall. There will be 11,921 square feet of office space, 17,881 square feet of retail space, 124 condominiums, and a parking garage with over 300 spaces for the public. The project will also include the construction of a rotary and a plaza.
Expected to cost $72.3m, the town will contribute $24m toward the parking garage and expects to be paid back through revenues from the garage. There will be a train horn quiet zone, towards which the developer is contributing $900,000.
Such sites often have Print shops create Signs on the property so that residents become aware of their development.
Currently on the site are three buildings the developer purchased and a public parking lot with 100 spaces, which is owned by the town.
Many representatives from the business community and members of the Council have praised the project, as it has the potential to bring more business and people to the downtown area and for its very modern design. Confluence has also built the Riverwalk development in downtown Castle Rock which is across the street from this project.
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