Renovation of an existing 34-acre neighborhood shopping center that suffered from a vacancy rate of more than 50 percent.
Bear Valley Mall was developed in the mid-1950s as a premiere shopping center in southwest Denver. Once the main tenant, May D&F, closed its doors in 1985, other tenants began to vacate the mall. Burlington Coat Factory moved into the shuttered May D&F department store, and an 8-screen movie theater was built on the southern side of the mall; however, their combined presence still wasn’t enough to attract smaller retailers.
In 1993, DURA was approached by city administration and then Councilman Hackworth to establish an urban renewal area (URA) that encompassed the Bear Valley Mall, which at the time was 51% vacant. In February 1994, Denver City Council authorized the creation of the Bear Valley URA and used TIF assistance to provide increased lighting to the parking lot, environmental remediation (asbestos), demolition cost, and improved utility service. The mall is now a thriving retail center anchored by a King Soopers Grocery Store.