1) The Shops at Northfield Sold
The Shops at Northfield sold for $71 million on Jan. 26 to Stockdale Capital Partners, a real estate firm in Los Angeles.
That’s $16 million less than what Forest City sold it for in 2017.
The seller was QIC, an Australian investment firm.
According to Denver property records, the sale of the 87-acre shopping complex took place over two transactions. The first included the lot of parcels that make up The Shops at Northfield for $66 million. And the second for an adjacent parcel for $5 million.
The open-air shopping center includes over 20 dining concepts and major retailers like Super Target, Macy’s, Old Navy, Bass Pro Shops, and Harkins Theatres.
2) DPS Healthy Start Times to Affect Bussing
Citing an adolescent’s need for adequate sleep, the DPS Board passed a resolution to have all middle and high schools start no later than 8:20 a.m. The new bell times will go into effect in the 2023-24 school year.
DPS has proposed three options.
The first option allows DPS to keep all bus routes but would have high schools starting and ending at different times throughout the district which would likely impact after school activities.
The second option eliminates 20 bus routes but allows middle and high schools to start and end at similar times. It would also start elementary schools earlier, likely before 8 a.m.
The third option eliminates 106 bus routes and allows all elementary schools to start at 7:50 a.m. and all middle and high schools to start at 8:50 a.m.
Changes to bussing will not affect the northeast and far northeast Success Express Route. It will affect magnet programs, schools with purchased bus routes, and schools where fewer than 10 percent of the population is on free and reduced lunch.
3) Proposed Suncor Permit Sent to EPA
This week state environmental agencies proposed a new permit for operating Suncor’s plant 2 in Commerce City.
The Air Pollution Control Division (APCD) sent the permit to the Environmental Protection Agency (EPA) for approval on February 8. The EPA can approve, reject, or offer feedback on the draft proposal.
Local residents and environmental groups say the permit overlooks Suncor’s failure to minimally comply with existing laws and regulations, perpetuating an ongoing behavior of negligence. They demand the EPA find the permit in violation of the Clean Air Act citing many years of documented illegal air and water pollution.
Despite being seen by many as an oil cowboy who regularly flouts regulations, Suncor—as Colorado’s only oil and gas refinery— is nonetheless an economic and energy powerhouse in the state.
According to their website, Suncor turns 98,000 barrels of crude oil a day—including that locally harvested from the Julesburg Basin—into various products, 95 percent of which are sold and used in Colorado. They supply fuel to more than 225 Shell, Exxon, and Mobil sites in Colorado and Wyoming, serving about 15 million people each year. They employ 500 Coloradans directly while supporting more than 5,000 jobs indirectly, with a total payroll impact of more than $250 million. Their operations and fuel sales have generated over $200 million in Colorado state, county, and municipal taxes over the past five years, averaging $40 million annually. Their estimated annual contribution to the state’s economy is $2.5 billion.
The EPA has 45 days to make a decision.