8th and Colorado: Kroger to the Rescue?
A few months ago, Wal-Mart pulled out as the major developer on the now vacant C.U. Medical Campus. The development has been in limbo ever since; but good news this week as the Kroger corporation has decided to step in and anchor the site.
The Kroger corporation, behind the grocery stores King Soopers and City Market, are known for adapting their business model to fit their neighborhood, and this will be no exception. They intend to open a Fresh Fare store, focusing on more organic produce, high end sea food and meats, and gourmet cheeses, as well as grocery store fare.
The move is not yet finalized. Kroger has only announced their intent to move into the site. They have made no plans to develop as yet. But Wal-Mart never pushed past the investigatory stages themselves. The neighborhood backlash forced them to back out of the location.
But don’t expect the neighbors to get up in arms as they did with Wal-Mart, though. Their already are three King Soopers’ within two miles of the location, and Kroger has already announced that the location will be smaller than most of their stores, only 80,000 square feet of space.Paired with the fact that Trader Joe’s has received very little resistance, I wouldn’t think the neighborhood will be as fevered about Kroger’s intention with the area.
What do you think about the development? Is a smaller local store better than a big-box, national retailer? Or should they wait even longer for another developer to step in?