Lakewood Reinvestment Authority Activities

Reinvestment Activities

A redevelopment project typically occurs when the Lakewood Reinvestment Authority (LRA) partners with the private sector for redevelopment of a specific location within a reinvestment area.

For more information contact: 303-987-7730

Creekside Activity

The Creekside Shopping Center has created a ripple of improvements at the major intersection of Colfax Avenue and Wadsworth Boulevard, which accomplishes one of the main objectives of any reinvestment plan. Creekside replaced a long-abandoned storefront with an attractive area of commercial activity, which spurred other companies and developers, such as Home Depot and the developer of Colfax Central, to build and revitalize along West Colfax Avenue. 

An impact study shows that in 2008 alone Creekside produced $6.8 million in economic and fiscal benefits for the local economy, including $1.2 million in net revenues for the city. Creekside draws employees and shoppers from outside Lakewood to spend money, and it shows in sales tax revenue generated from this site.  The Creekside project was designated an urban renewal project in 1999 to address a site that contained a Kmart building that sat vacant for 10 years due to challenges associated with multiple ownership and drainage issues. Creekside is now home to a 220,000 square-foot Super Walmart and 49,000 square feet of additional retail and service buildings. 

Project Summary

Alameda Streetscape Activity

Construction began in April 2018 on the Alameda Streetscape Project along Alameda Avenue between Sheridan Boulevard and Carr Street. The project included widening portions of Alameda Avenue, adding sidewalks (including Teller Street), landscaped medians, and place-making elements; installing trees and aesthetic features such as flagstone accents; and making other improvements.

These place-making improvements bolstered the economic vitality of the Alameda corridor in Lakewood, helping to produce lasting benefits to the local economy — and helping brand the Alameda Corridor as a well-designed, efficient area where businesses thrive. Motorists, pedestrians, bicyclists, and mass transit users also find the corridor more inviting and usable.

Placemaking element - Alameda and Wadsworth

Placemaking element - Alameda and Benton

Reconstruction Areas: West Alameda Avenue from South Carr Street to South Pierce Street and South Teller Street from West Alameda Avenue to West Bayaud Place

Reconstruction Area: West Alameda Avenue from South Harlan Street to South Benton Street

Belmar Activity

Belmar, located at the corner of Alameda Avenue and Wadsworth Boulevard in the heart of Lakewood, represents one of the most successful redevelopment projects in the city. Built in 2004 on the former site of the Villa Italia Shopping Center—a 1.4 million-square-foot indoor mall that served the community for 35 years—Belmar is the centerpiece of Phase II of the West Alameda Avenue Corridor reinvestment area and has become Lakewood’s downtown. 

Spanning 22 city blocks and over 1 million square feet, Belmar is a thriving mixed-use lifestyle destination that blends retail, dining, entertainment, living, and working spaces. It features more than 80 shops and restaurants, including major anchors such as Whole Foods Market, Target, Best Buy, Nordstrom Rack, Dick’s Sporting Goods, and Century Theatres. Belmar also offers over 1,300 residential units, a Hyatt Place hotel, luxury condominiums, artist studios, educational facilities, and more than 250,000 square feet of modern office space. 

Designed with an urban lifestyle in mind, Belmar integrates public parks, plazas, green spaces, and a vibrant public art program to foster community and encourage pedestrian activity. With around 5,000 parking spaces across garages, surface lots, and on-street parking, it balances accessibility with walkability. The Lakewood Reinvestment Authority (LRA), in partnership with Continuum Partners, played a key role in funding vital public infrastructure such as sidewalks, streetlights, parks, and parking structures, helping to realize a long-term vision to revitalize Lakewood’s core. 

Today, Belmar is more than just a destination—it's a community hub where people live, work, and connect, embodying the legacy of the past while shaping the future of Lakewood. 

For further information:  
Owned and operated by Bridge33 Capital: 
Site Plan  
Belmar's Demographic Population  
Summer Fest Concert Series 
Big Belmar Bash 2025    

Station Betterment Activity

The Station Betterment project, found within the West Colfax Avenue Corridor reinvestment area, was designated in 2008. It allows for the funding of improvements to light rail stations at Wadsworth Boulevard and Oak Street. Station improvements include expanded shelter areas, increased seating, native materials and unique designs. Construction of the betterments was completed with the opening of the West Rail Line in April 2013. 

The Station Betterment project was vetted through a citizens’ advisory group, comprised of community members who made an official recommendation to the LRA Board of Commissioners to designate it as an urban renewal project. The project is intended to protect light rail commuters from the elements, increase aesthetic views and attract development.  The project is designed to announce to commuters their arrival into Lakewood, help establish an identity for the city, while reflecting the uniqueness of the community. Station improvements will contribute to future reinvestment potential in the W light rail area.

 
Wadsworth Station Bridge Betterments (photo credit: RTD)

Oak Street Station Betterments

Project Summary

6051 W. Alameda Activity

• Purchasing properties within the Project Area, mitigating blighting conditions, and making the property available for future redevelopment are all consistent with the Urban Renewal Revitalization Plan approved by Lakewood City Council in 1998.
• 6051 W. Alameda Ave. is approximately .86 acres in size and motel operations have been the property’s historic use.
• The purchase price for the property was $3M and the value was supported by an independent market appraisal.
• This was a voluntary purchase made with the prior owner of the property, as he wished to sell the property.
• The Lakewood Reinvestment Authority Board of Commissioners approved the purchase, environmental remediation, and demolition of the structures on 3/20/2023.
• An environmental consultant was engaged to determine environmental conditions on the site and the site was remediated in accordance with the approved plan.
• Demolition of the structures began on 11/22/2023 and was substantially completed by 11/27/2023.
• The LRA is engaged in a study to make recommendations of highest and best use of the site.
• Per the Urban Renewal Statute, the Lakewood Reinvestment Authority will accept and review Requests for Proposals for the Redevelopment of the site. As part of this process, the LRA may choose to set specific restrictions upon the subsequent sale of the cleared property, which can ensure the mitigation of future blighting conditions and future redevelopment builds based upon community needs.

High and Best Use Study(PDF, 5MB)

6203-6205 W. Colfax Avenue Activity

• Purchasing properties within the Project Area, mitigating blighting conditions, and making the property available for future redevelopment are all consistent with the Urban Renewal Revitalization Plan approved by Lakewood City Council in 2005.
• 6203-6205 W. Colfax Ave. is approximately .46 acres in size (three parcels) and a motel operation has been the properties’ historic use.
• The purchase price for all three parcels within the property was $1.625M and the value was supported by the two (2) independent market appraisals. ($1.7M and $1.6M, respectively for the land.)
• On 5/22/2023, staff received formal direction from the LRA Board of Commissioners to acquire at $1.625M, mitigate environmental conditions (asbestos), and demolish the structures on the site.
• The LRA closed on the property on 7/28/2023.
• This was a voluntary purchase made with the prior owner of the property, as he wished to sell the property.
• An environmental consultant was engaged to determine environmental conditions on the site and remediation began on 11/27/2023.
• Demolition was initiated 03/08/2024 and substantially completed on 03/12/2024.
• The LRA is engaged in a study to make recommendations of highest and best use of the site.
• Per the Urban Renewal Statute, the Lakewood Reinvestment Authority will accept and review Requests for Proposals for the Redevelopment of the site. As part of this process, LRA may choose to set specific restrictions upon the subsequent sale of the cleared property, which can ensure the mitigation of future blighting conditions and future redevelopment builds upon community needs.

High and Best Use Study(PDF, 6MB)

Revolving Loan Fund

The Revolving Loan Fund (RLF) encourages revitalization by providing funds to existing businesses and property owners for the purpose of improving commercial property and thus helping create a more vibrant community.

• Loans from $100K to $500K
• Terms: from 3 to 7 years
• Fixed interest rate, negotiable up to a maximum of the current prime rate

Process

1. Contact Economic Development (ED) staff to discuss your project and determine if you are in the correct location (phase 1 project area)
2. Submit an application with all required supporting documents
3. ED staff will review for completion and schedule application for the Loan Approval Committee review
4. If approved, ED staff will make introduction to Colorado Enterprise Fund
5. Loan recipient will need to follow repayment and terms as laid out by the agreement with CEF

What can funds be used for?

• Exterior & Interior physical improvements
• Facade improvements
• Utilities or Infrastructure
• Fixed-assets investments to building
• Landscaping
• Sign replacement
• Health or sanitation improvements
• Activities related to removal of blight

Why Participate?

• Improve curb appeal to attract customers and increase sales
• Save money with below market loan rates
• CEF works with business owners that don’t qualify at traditional banks 

 Apply 

Contact: Mjohnson@lakewood.org