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Agreement reached on Westminster Mall

(May 02, 2011)

The Westminster Mall Company and related entities, as well as the City of Westminster and the Westminster Economic Development Authority, are pleased to jointly announce that agreement has been reached concerning the Westminster Mall. The city and owners of the Westminster Mall have agreed to the sale of the mall property and the settlement of the litigation brought by the owners last August. The contract for the sale of the mall property was approved by the Westminster City Council and the Westminster Economic Development Authority Board on May 2, 2011.

“The acquisition of the Westminster Mall by the Westminster Economic Development Authority is a watershed point in the history of this highly significant piece of land. Our vision for an urban center to our community, with office, residences and retail, has taken one giant step forward,” said Mayor Nancy McNally. “This is a fine example of what can be accomplished by mutual agreement and in response to the wishes of our community.”

“The Westminster Mall is at once our past and our future,” said Westminster City Manager Brent McFall. “This suburban mall was hugely significant as a cultural icon in our community for over 30 years, and provided financial resources used in the provision of important municipal services for business and residential citizens alike over that period. We look forward to a new, vibrant development focused on access to rail and bus rapid transit that allows us to continue to provide vital services to our community.”

Westminster Mall is located at 88th Avenue and Sheridan Boulevard just off U.S. 36. It was originally constructed in 1977 with 30 stores, including Joslin’s as the main anchor. A 1986 expansion added three new anchors — Foley’s, Broadway Southwest (now Sears) and Mervyn’s. J.C. Penney was added in 1987 as the fifth anchor store. Sears replaced Broadway Southwest in 1996 and, in 1997, Montgomery Ward became the sixth anchor. In 1997 Joslin’s became Dillard’s. In 2000, the mall underwent a $10 million renovation.

In its heyday, the mall was the second largest shopping center in the Denver area (at 1.5 million square feet of retail), and the only mall in Colorado to feature six anchor stores. The mall in the late 1990s accounted for approximately 25 percent of the city’s sales tax collections.

It is anticipated that closing on the transaction will occur May 10 of this year. Tenants of the mall will be notified of the pending ownership change, and it is hoped that key anchor tenants will remain in operation on the site during construction of a new urban neighborhood.

The Westminster Economic Development Authority is in active pursuit of a development partner to help achieve the vision set forth by the City of Westminster for a mixed use, urban-style development for the 105-acre site. The city’s concept for the future of the entire Westminster Center area has generated interest from developers throughout the country. Get more information on the city's redevelopment vision.

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