Loveland, Colo. — Denver-based real estate investor and developer Realberry has begun vertical construction on the retail core of Avenue South, a 140-acre mixed-use project within the Centerra community in Loveland, 46 miles north of Denver. The development will create a walkable district integrating retail, office, dining and thousands of new homes at the intersection of I-25 and U.S. Highway 34.
Approved by the City of Loveland in 2023, Avenue South will extend miles of trails and open space while introducing large-scale retail, dining and gathering places to keep pace with neighborhood growth, says Realberry.
Plans for the retail core include 18 restaurants, 33 retailers and the first Whole Foods Market store in Loveland, located directly adjacent to The Marketplace at Centerra, one of northern Colorado’s largest contiguous shopping centers. A new 3.2-acre park, event lawn and amphitheater known as The Front Porch will anchor the district.
At full build-out, Avenue South will feature nearly 2,000 residences, including 475 single-family homes and approximately 1,250 apartments, condos and townhomes. Plans call for 150,000 square feet of office space anchored by a 140,000-square-foot corporate headquarters for general contractor Hensel Phelps, which is relocating from nearby Greeley, Colorado. Vertical residential construction is anticipated to begin in 2027.
“Avenue South reflects the kind of thoughtful and responsible growth we want to see in Loveland, creating jobs, expanding housing opportunities and strengthening our local economy,” says Loveland Mayor Patrick McFall.
The broader Centerra master-planned community supports more than 8,500 jobs, 4,500 homes and 150 businesses. The 3,000-acre development is home to The Promenade Shops at Centerra, UCHealth-Medical Center of The Rockies and The Marketplace at Centerra. The project also includes High Plains Environmental Center, which manages 483 acres of wetlands, open space and reservoirs, and the 26-acre Chapungu Sculpture Park.
Realberry invests in, develops and operates real estate across hospitality, multifamily, commercial, mixed-use and master-planned community projects.
— Kristin Harlow