Frequently Asked Questions
This is Shawn Temple, master developer of Miller’s Landing and a fellow resident of Castle Rock, Colorado. I moved to Castle Rock three years ago with my family to see this project through while enjoying the Colorado sunshine. We’ve made a lot of progress on Miller’s Landing in our time here. Soon after remediation efforts wrapped up last year, we moved on to complete early grading for Phase I in December of 2019. Our development team is excited to make more announcements on the hotel and future offerings as we get further into 2021, but we also need your input.
Managing Director, P3 Advisors, LLC
General Project FAQs
It depends on market demand, but full build-out is expected to take 5 to 8 years.
It will be a full-service resort with 250 rooms and over 10,000 SQ FT of conference and meeting space.
We're looking for retail partners that will provide complementary services to the predominantly food and beverage based offerings downtown.
We know that about 80% of Castle Rock residents (that's 20,000 people) leave the town to go to work each day. We're looking to attract industries that can provide primary employment opportunities for the people who live here.
The key to success of any commercial development is providing sufficient parking. We anticipate a combination of street parking, surface lot parking, and structured parking to ensure adequate capacity for our customers and clients. Additionally, we’re building out a bike path to connect downtown Castle Rock to the west side of I-25 to help with mobility and connectivity.
When was the landfill cleaned up and where did all the trash go?
The landfill cleanup started in September 2018 and was completed in June 2019. Over 8,500 truckloads of household trash were transported to a permitted disposal facility in Arapahoe County. All remediation was completed in accordance with the Colorado Department of Public Health and Environment regulations and specifications.
Financing, Taxes, Special District FAQs
A business improvement district is a type of special district created within a municipality to fund certain types of improvements that will, among other things, promote the continued vitality of existing business areas within the municipality. (Source: Colorado General Assembly)
Only commercial properties within the BID will pay the BID property tax
The BID for Miller's Landing will manage the design and construction of public improvements (such as new and improved roads, public spaces, landfill cleanup, etc.) and promotes the project to ensure success.
The Public Finance Agreement (PFA) is the governing agreement between and among the developer and the Town of Castle Rock. It includes the requirements the BID, URA and the developer must adhere to regarding the design and construction of public improvements.
Any savings from initial estimates for project costs must be used for public benefit.
When blight conditions affect specific areas of a city or town, Colorado’s urban renewal laws authorize municipal governments to create urban renewal authorities (URA). A URA is responsible for improving conditions in an affected urban renewal area. The URA conceives and implements urban renewal projects. URAs have the authority to borrow and invest funds, among other powers, to bring vitality to neglected areas. (Source: Colorado Legislative Council)
The Board for the Urban Renewal Authority (URA) is comprised of the Castle Rock Mayor and Town Council. Once the Town approved the Urban Renewal Plan in 2015, the URA authorized the capture of the new property and sales tax increment generated within the designated boundary.
No. Only the new increment in property taxes generated by the increase in activity and valuation of the property will be used and dedicated for public improvements. These funds are URA funds, not Town or County funds.
All tax dollars that would have existed prior to the URA and without the activity generated by the private investment of the P3/CCD team will continue to go to Douglas County and the other governmental entities.
In addition, 60% of the new sales taxes generated on site will be dedicated to public improvement while 40% of the new sales taxes go directly to the Town.