Boulder Junction Redevelopment
In 2000, the City of Boulder initiated a planning effort for a transit-oriented development (TOD) in east Boulder as an extension of the 28th Street corridor planning project. Through a site selection process, the 11.2-acre site at the northeast corner of 30th Street and Pearl Parkway (then owned by Pollard Friendly Motor Company) was identified as the preferred location for a TOD. In October 2004, the city, in partnership with the Regional Transportation District (RTD), acquired the site from Pollard Friendly Motor Company for $9.5 million and named the area “Boulder Transit Village." Since then, site has been renamed Boulder Junction.
The city purchased eight acres on the west portion of the Pollard Friendly Motor Company site for mixed-use development and RTD purchased 3.2 acres on the east portion for a transit facility. As part of the purchase agreement, Pollard Friendly Motor Company retained a lease to occupy the western 5.5-acre portion of the site through 2016.
The goals for purchasing the city-owned portion of the site, as articulated in previous City Council information packet memos, are to:
- Advance Boulder’s long-range vision for a TOD that maximizes public investment in multimodal transportation, infrastructure improvements and affordable housing;
- Create a mixed-use development with predominantly residential uses and some supporting commercial uses, as determined by a future market study;
- Create a range of housing types, including a substantial amount (up to 50 percent) of permanently affordable housing, with the remaining 50 percent of the housing sold or rented at market rates; and
- Create a mix of ownership and rental housing at a range of 220 to 300 units.
Status and Potential Next Steps
The city currently owns 5.45 acres total at 30th Street and Pearl Parkway. The 0.05-acre reduction is a result of the:
- Existing multi-use path access ramp from 30th Street to the Goose Creek path;
- Proposed pocket park and related improvements; and
- Junction Place right of way and easements.
The city has leased 4.3 acres of the property to Pollard Friendly Motor Company through Oct. 30, 2014. Pollard Friendly Motor Company has the option to extend the lease for two years if it decides to exercise an option to purchase a 6.6-acre parcel of land on Pearl Parkway that was subdivided from the Municipal Service Center (Yards) property.
Initial ideas for the property included a focus on affordable housing. During the July 31, 2012 City Council study session about the Update on Boulder Junction and the city-owned site at 30th and Pearl streets , council indicated an interest in re-evaluating the potential uses of the site in light of the city’s goals for Boulder Junction and the realization of nearby development projects.