REAL ESTATE DECISION SUPPORT

Traction was gained this week in the future redevelopment of the Westminster Mall with the announcement that the city of Westminster has approved the purchase of the soon-to-be-closed Sears store.  Totaling 7.9-acres at 5501 West 88^th Avenue, the store is to be purchased for $4.2 million in late February.  The city anticipates the proximity of the Westminster Mall site to Denver and Boulder and its transit options via U.S.-36 rapid bus and the northwest line of the FasTracks project of the Regional Transportation District to spur its redevelopment, and envisions the site to create a skyline for Westminster with a density three-times greater than the former mall.