Business Districts Spur Economic Development in Castle Rock
Miller’s Landing is creating a modern mixed-use development in Castle Rock, CO, that will provide economic benefits to the community and be one of the best places to start or locate a business in Colorado. When completed, Miller’s Landing will be a major economic engine in Castle Rock and help the town fulfill the ambitious plans it laid out in its 2020 Comprehensive Master Plan.
Miller’s Landing is creating a vibrant bicycle- and pedestrian-friendly town center complete with retail, restaurants and entertainment options. It’s supported by modern offices, a resort hotel and spa, conference and meeting facilities, multi-family housing options and generous amounts of open space with beautiful views of the Colorado Rockies. It’s the top location to live, work and play on the Colorado Front Range.
Castle Rock is located on the I-25 corridor in the south Denver metropolitan area. Situated nearly midway between Denver and Colorado Springs, the town offers easy access to both cities. It’s rated as one of the best places to live and open a business in Colorado.
Castle Rock’s small town atmosphere, access to good jobs and big city amenities and abundant recreation opportunities make it a top choice for highly educated, well-trained professionals. Most work in white collar occupations, with 31 percent working in high-tech industries.
Encouraging Economic Development
As part of its 2020 Comprehensive Master Plan, in 2008 the Town of Castle Rock created four Interchange Overlay Districts at key interchanges along the I-25 corridor to take advantage of the approximately 85,000 vehicles that travel along I-25 daily. Zoning in the districts encourages compact, transit-oriented development to help the community grow its economic base, provide local jobs and support the high-quality of life in Castle Rock.
Miller’s Landing is located in the Plum Creek Interchange District, considered the southern gateway to historic downtown Castle Rock. According to the town’s Master Plan, the Plum Creek Interchange District is intended to:
- Promote high-quality, high-density economic development
- Encourage development west of I-25 that respects major land features of the area
- Promote uses that complement activities and goals of downtown
- Develop pedestrian connections to downtown
“The Town created the Interchange Overlay Districts to develop commercial nodes in areas of town where zoning allowed for more dense development,” said Frank Gray, President and CEO of the Castle Rock Economic Development Council (EDC). “These districts will help keep business development located in parts of town where it makes economic sense and prevent it from spilling into residential neighborhoods. They also create the density that businesses need to be successful.”
Unlike the other Interchange Overlay Districts in town, the Plum Creek district is the only one that is being developed from scratch from open land. As a result, it offers the first chance for a development to be created that fully meets the needs and requirements of the Town’s Master Plan.
Marcus Notheisen, vice president of the Castle Rock EDC, stresses that the Town encouraged public involvement during the initial conversations about the districts and their ultimate creation.
“The Interchange Overlay Districts provide for the highest and best use for the land and provide great benefits to the community,” said Notheisen. “They offer a win-win situation for both the business community and local residents.”
Meeting and Exceeding Expectations
Miller’s Landing meets the Interchange Overlay district requirements. After creating a public-private partnership with the Town of Castle Rock, master developer P3 Advisors remediated a blighted property located near the heart of town that was the location of a landfill to create Miller’s Landing. Because of its prime location, the town had zoned the land for high-density, mixed-use development long before P3 Advisors entered the picture.
Today, we’re taking that once blighted and abandoned piece of land and creating a dynamic 65-acre mixed-use development.
P3 Advisors specializes in complex brownfield, mixed-use and specialty snow sports projects that leverage public-private partnerships to deliver superior returns for partners and communities.
Our intention from the outset was to create a development that meshes with the town’s master plan and zoning requirements and enhances the community. Its mix of retail, entertainment, businesses, hospitality and multi-family housing will increase shopping, entertainment and employment options in town and greatly add to the town’s tax base.
Miller’s Landing will feature a pedestrian-oriented main street that captures the essence on an historical mountain resort town. A blend of classic and modern with an authentic “feel of place,” its wide sidewalks and space for outdoor dining and shopping will attract workers, visitors and residents alike for entertainment, relaxation and exploration.
Miller’s Landing is connected to downtown Castle Rock by a regional trail along the Industrial Ditch corridor. It’s also within easy walking distance of Philip S. Miller Park, the region’s premier outdoor recreation facility.
A Well-Educated Workforce
Businesses that locate at Miller’s Landing will find a highly-educated and skilled local workforce. According to the Castle Rock EDC, the town is home to one of the best educated populations in the U.S., with a large percentage of the workforce having at least some college or post-secondary training.
This well-educated workforce provides companies with a large pool of prospective employees. Many local residents commute to work in the Denver or Colorado Springs areas. Yet a 2017 analysis by the National Association of Realtors® found that a majority would prefer to work locally.
We believe Miller’s Landing will provide countless benefits to Castle Rock and to the businesses, individuals and families who call Miller’s Landing home. Join us as we create a vibrant, growing community of good work and good living.