Kentro Group: In The News

Today’s News + Insights from Kentro Group

November 23rd, 2024

Neighbors push back on potential high-rise redevelopment at Belcaro King Soopers site

A preliminary development review meeting on the future of the Belcaro King Soopers Shopping Center on South Colorado Boulevard in Denver drew a crowd of 150 neighbors on Thursday night — many of them irate about prospects for what could be a highly vertical project with buildings towering to 12 stories and maybe more. The neighbors from the low-density, single-family neighborhood to the west of the supermarket expressed worries about bringing in housing density and tall buildings to what they described as an area with a suburban — not urban — character. Some of their points echo the congestion worries regarding the rezoning of the west side of the Cherry Creek Shopping Center for a 13-acre mixed use community known as Cherry Creek West. That project has already received the green light of the Denver City Council. Meanwhile, the potential developer told the attendees that the site offers an “opportunity,” perhaps even a broader vision, while city representatives described that the meeting as just the first step of a long process.

November 19th, 2024

Combo plates: Restaurants struggle and succeed

Succeeding in Colorado’s restaurant scene is like a giant Mexican or Chinese restaurant menu with multiple columns of delicious choices. And whenever and wherever these combined options are available, they can lead to a fantastic, savory and sweet business journey.

June 14th, 2024

Plaza containing City Market in Breckenridge sells for $49 million; developer shares plans for future

The Ofpers Partners sold the Parkway Center in Breckenridge, home to the City Market grocery store, on April 25 for $49 million. The Kroger Co., the parent company of City Market, partnered with the Denver-based Kentro Group to buy the center. They plan to renovate the grocery store and honor the current leases for the businesses in the center.

February 21st, 2024

No crystal ball? Retail nevertheless looks bright

If we were sitting with an astrologer, trying to learn more about the future of retail, we might see that a new moon is rising in our favor. Fortunately, we have the benefit of solid, contemporary data that speaks more clearly: Retail real estate is having a moment.

August 31st, 2023

CRE valuations in flux due to negative leverage

Though it might feel like a century has passed, the Federal Reserve’s rate hike policies began only in March 2022. As you read this article, the Fed just raised rates for an 11th time, lifting benchmark borrowing costs to their highest level in more than 22 years. Officials gave little indication of the course they might take at their next meeting in September. The effects on CRE transactions are clear. The cost of capital and uncertainty around property valuations have become giant hurdles.

March 20th, 2023

Former Gart property in Capitol Hill could get 100 affordable units

After buying a one-story office building in Capitol Hill in December, a development firm wants to tear it down and build affordable housing units. Denver-based Kentro Group purchased 1001 N. Lincoln St. from Gart Properties in December for $4.5 million.

March 10th, 2023

Colorado Blvd.-area affordable housing just broke ground in Virginia Village, and more change is coming

What used to be old, dilapidated buildings housing the Colorado Department of Transportation in Virginia Village will now host a park, a supermarket and affordable housing.
Kentro Group and Lexton McDermott broke ground on the old CDOT headquarters a few blocks north of I-25 and Colorado on Wednesday to make way for a housing project that’s been in the works since 2018.

March 8th, 2023

Affordable housing project breaks ground in southeast Denver as affordability debate continues

The City of Denver celebrated the groundbreaking of a new affordable housing project on Wednesday.
The Kentro Group and Lexton McDermott broke ground on the Krisana Apartments located on the former Colorado Department of Transportation headquarters site in Denver’s Virginia Village neighborhood. The complex features 151 units of affordable housing.

February 28th, 2023

Kentro Group Acquires 24 Acres in Loveland for Residential Development

Kentro Group, a Denver-based real estate developer offering all aspects of retail real estate, acquisitions, development, finance, leasing and select property management, has acquired ±24 acres of land on two adjacent parcels in Loveland. The developer plans to construct a new residential project on the property.
Located at the southwest corner of Highway 402 and Roosevelt Ave, the pair of parcels sold in separate transactions for a combined $1.6 million.

February 9th, 2023

Kentro plans redevelopment of King Soopers site in Denver’s Belcaro neighborhood as grocer relocates

Denver-based Kentro Group submitted redevelopment plans to the city this week for 825 S. Colorado Blvd., a 6.4-acre site in the Belcaro neighborhood that features a strip mall anchored by the grocer and two stand-alone buildings.

December 22nd, 2022

Gart sells brutalist office building on Lincoln to Kentro for $4.5M

A brutalist office building along Lincoln Street that has been used sporadically in recent years has changed hands. Denver-based Gart Properties, the real estate firm that grew out of a sporting goods chain, sold the 1001 Lincoln St. building earlier this week for $4.5 million, according to public records. The 18,500-square-foot structure sits on a 0.53-acre lot. The buyer was Kentro Group, a Denver-based development firm. A Kentro representative said the company is still determining its plans for the property.

October 10th, 2022

King Soopers plans store at former CDOT site along Colorado Boulevard

CDOT is out, and King Soopers is in.
The grocery store chain plans to open a store at 4201 E. Arkansas Ave., a large site along Colorado Boulevard in the Virginia Village neighborhood where the state transportation department once had its headquarters.

April 19th, 2022

Construction Begins on 62-Unit Affordable Senior Community in Virginia Village

A new affordable senior living community has begun construction in Denver’s Virginia Village neighborhood through a joint venture between local real estate development firms Lexton McDermott and Kentro Group.

February 5th, 2022

Kentro seeks TIF for Scoular site

The Denver-based Kentro Group intends to buy and rehabilitate the nearly 90,000-square-foot downtown Omaha complex that the international Scoular grain company occupied before it moved to west Omaha.

October 13th, 2021

Massive Virginia Village development near I-25 will break ground in summer, starting with affordable housing

Viscardi said this portion of the project is focusing on the affordable units, which will be a mix of studios, one- and two-bedrooms and will be available for those making 60 percent of the area median income or less. “The affordable housing portion is absolutely critical not only to the Denver market but as part of our project,” Viscardi said. “We’re really happy we got selected on the tax credit deal.”