955 Sheridan Blvd

The blighted former Holiday Plaza Retail Center has long been a sore point for the residents of the Two Creeks neighborhood. However, a promising redevelopment proposal aims to breathe new life into this vacant strip mall. The developer, TOD Properties envisions a 6-story mixed-use building comprising 362 residential units.

Located on the southwest corner of 10th Avenue and Sheridan Blvd in Lakewood, this property has remained unused for years, following its purchase by out-of-state California buyers in the late 1990s who neglected its upkeep.

In an effort to rejuvenate the area, the owner has requested a public investment loan agreement to assist with the demolition and site preparation required for the new development. If approved, the developer stands to receive a loan of up to $1,000,000 from the Lakewood Economic Development Fund, which will be utilized to remove the blighted structure.

It's important to note that the loan agreement specifies that the city's involvement is not that of a lender to individuals, but rather an investment in the land secured by a lien on the property. This arrangement ensures the city's participation in economic development without establishing a joint venture with any private entity.

The proposed building will comprise ground floor retail spaces, providing a platform for local businesses to thrive. Along with 362 residential units, the building will include 426 parking spaces, 242 designated bike spaces and a fitness center.

Pending approval, the developer may receive the requested loan from the Lakewood Economic Development Fund, allowing for the removal of the blighted structure and paving the way for a fresh era of growth and prosperity for the Two Creeks neighborhood of Lakewood.