Town moves closer to selling Pine Curve

Town council approves sales agreement, future for property still murky

Posted 8/20/19

Parker Town Council approved a processing and sales agreement for the 24-acre Pine Curve property at its Aug. 19 council meeting, yet the fate of the property is still in question. The 24-acre lot at …

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Town moves closer to selling Pine Curve

Town council approves sales agreement, future for property still murky

Posted

Parker Town Council approved a purchase and sale agreement for the 24-acre Pine Curve property at its Aug. 19 council meeting, yet the fate of the property is still in question.

The 24-acre lot at the intersection of Pine Drive and Mainstreet has been at the center of debate within the town over its development, which has spawned a citizens' initiative in opposition of any development on the land.

Before the sale of Pine Curve property to real estate investment group UDC Miller is finalized, the town and buyer must complete a number of substantive terms, outlined in the town council request form on the town's website at ParkerOnline.org. Those terms include the town exchanging important surveying documents with the buyer, the buyer providing a preliminary plan for the property — including proposed open space — and for the buyer to submit an application for a minor development plat, among other things. The time allotted for these steps to complete allows for up to 12 months before final approval of the sale.

The agreement outlines a sale of the property for $5 per square foot minus the cost of installing a regional detention pond, which accounts for about 30% of the gross square feet of the detention pond. The estimate provided by the town of the net cost to the buyer is about $5.3 million. The property was originally listed for $5.8 million.

There is also a term within the agreement calling for a 50-foot buffer zone between Pine Curve and the Parker Vista neighborhood to the east. Many members of the citizens' committee live in Parker Vista and voiced opposition to development on the site due to a fear in loss of home value.

UDC Miller is a group known for its part in developing various grocery stores and mixed-use retail. UDC Miller developed the Highlands Ranch Town Center and Village and the Crossings at Stonegate in Parker, among many other major developments in the area.

The agreement was accompanied by a resolution, spearheaded by Councilmembers Joshua Rivero and John Diak, to list the history of Pine Curve and the context of the sale in response to allegations that people in support of the citizens' committee were dishonest in their bid to secure signatures. Leaders of the group have disputed that, but have repeatedly attested to wanting to find a negotiation with the town or a “win-win” of some kind.

The sale agreement holds one major contingency: The town will not close on the sale if a vote of the people changes its zoning to open space. But there's no guarantee a special election will take place yet.

A citizens' initiative opposed to development has taken steps to put the zoning of the property up to a vote. First, the group needs about 6,000 signatures supporting its cause. If it collects and turns in 6,000 valid signatures by Oct. 9, a special election will be held, possibly this winter, for a vote on the property's zoning, which will once and for all determine the fate of the lot.

If a special election is called for and the vote passes to rezone Pine Curve and a strip of land north of the PACE Center, known as PACE Lot 2, to open space, the sale agreement will be terminated.

Residents on both sides of the issue spoke for nearly two hours during the public comment portion on the issue.

Those in favor of development of Pine Curve included the Downtown Business Alliance, which delivered a position statement after meeting with the town and citizen's committee. The statement reads, in part:

“Even though the 24-acre Pine Curve parcel being proposed for sale for development is not technically in the DBA's official boundary area, its close proximity to downtown means development there — or lack thereof — will impact DBA members. For that reason, our official position is: We support the development of that land to include commercial uses like retail, office and residential — helping to increase the vibrancy downtown and maintaining a stable tax revenue base. The DBA is confident the Town Council and staff will require any potential developer to adhere to the language in the listing which states the viewshed for residents east of the parcel will be protected and an adequate buffer will be established.”

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