Castle Rock Preps for Huge Mall
Perhaps the largest mall in America is set to hit Colorado.
To get more specific, Castle Rock will be home to this huge mall. It was reported in November that developers had a groundbreaking on a $177 million, 1-million square-foot destination retail center. If you drive by the current outlet mall and Lowes in Castle Rock, you will see development of the land is already underway.
As Inside Retail Estate News said, “it will be one of the largest shopping centers under construction in the U.S. when completed.”
It’s being built just off Interstate 25 at U.S. Highway 85. The new mall will go next to and around the current outlet malls. And for those who live or have been to Castle Rock, know the nightmare traffic already is. With this new shopping center, it will only get worse.
Thankfully, a new ramp is under construction as well north of the current Meadows Parkway exit as you make the decline to Castle Rock. For the mass of people who will undoubtedly show up when it’s completed, it is much needed. Hopefully, the ramp gets completed before the mall since traffic is already a mess.
When you add in the residential development in the “Meadows” further west of the outlets and new giant mall, west Castle Rock will soon be out of room.
“This will be one of the largest community center developments in the United States,” principal owner of Alberta Development Partners Don Provost told Inside Real Estate News. “We look forward to bringing some of the best retailers in the country to Castle Rock.”
This brings up a multitude of questions, but we’ll focus on two.
What does this do the real estate market and value of homes in the area?
What does it mean for the already giant mall in Englewood, Park Meadows?
It won’t impact the value of homes in a negative way whatsoever. When you add something to the community or area that brings that much value, that’s a great thing. It forces people to want to be there – to either visit or live. If they visit, if they like what they see they could say, “Wow, we need to move here.”
With people who flood Castle Rock, that improves the value of your home. So there’s no need to fret about that.
In terms of the already giant Park Meadows mall, it’s all speculation but it’s not far-fetched to see this mall in Castle Rock actually help. With as many people as there is in Denver and the suburbs, there is an equal amount of opportunity for both to succeed. There’s also the people north of Park Meadows and the people south of Castle Rock (Colorado Springs and Pueblo, for example).
Of course, there is the potential for it to go the other way and Park Meadows doesn’t do well. Time will tell in that regard.
One thing is for certain: Castle Rock is set to get one of the largest malls in America, and thankfully, there is another ramp to get there to help traffic.