Developer says Center Street core infrastructure is next step; bond timing, leasing cited as primary risks

McWinnie Real Estate representatives told the Broomfield City Council on Monday that major horizontal infrastructure for the Baseline project is nearing construction and that the Center Street District’s schedule depends on public-infrastructure work and bond financing.

Kyle Harris, senior representative for McWinnie, and Amanda Steinle described current construction in Parkside West Phase 3 and Southlands, discussed an upcoming linear-park amenity and play features, and said Center Street’s first vertical phase (retail) will be submitted for review this week. Harris said the project team expects to begin horizontal construction after bond issuance and aims to open the first retail storefronts in summer 2028, but he cautioned the council that the aspirational bond date listed in project charts—Dec. 18—will likely slip to January due to the holiday period.

The update focused on schedule sequencing and financial prerequisites. Harris said issuance of bonds is the prerequisite for the public-infrastructure work that triggers retail and the following residential construction. He described a typical underwriting condition: bond underwriters and equity investors want evidence of leasing and investor equity before committing. McWinnie said its financing partners have suggested a 50% pre-leasing threshold as a rule of thumb for moving forward and that the team is pursuing letters of intent and early leases, including discussions about a grocer and about 16,000 and roughly 63,000 square feet of retail space under letter-of-intent discussions.

Harris reviewed near-term infrastructure work that is in progress or soon to begin, including intersection improvements at Sheridan and 160th/Seventh, a seven-day closure for intersection work planned around the Prospect Ridge Academy school schedule, a six-week median improvement window, and a traffic signal at 160th that the developer said should be operational by July. He also gave a program update showing current green-lit construction (Parkside West phase 3; Southlands infrastructure) and areas marked for next phases (Parkside West phase 4 and Center Street).

The presentation described public-realm amenities coming with the linear park: a regional play facility, a climbing wall feature, picnic areas and restrooms, and the developer said those are intended for all ages. Harris also addressed questions about the Butterfly Pavilion, saying McWinnie remains committed to the Pollinator District and retains a Butterfly Pavilion representative on its design-review board even after that organization chose not to relocate to Baseline.

Risks highlighted by the developer included bond market timing, equity availability, leasing-market uncertainty and broader financial volatility. Harris said some tenant types prefer to engage closer to build-out dates, while food-and-beverage tenants are more likely to engage earlier; the team therefore is pursuing a mix of retail and grocery commitments. He characterized the current market as uncertain due to tariffs, interest-rate speculation and volatility, but said investors and prospective tenants still view the project and the community positively.

Council members asked several clarifying questions about sequencing and the quasi-judicial status of the application; staff reminded council the project is in development review and not a concept review or final hearing. No formal action was taken; the presentation served as an informational update and council asked staff to continue working with the applicant through the regulatory steps.

The developer said they will return to answer follow-up questions and that the team expects to submit the retail vertical package this week and proceed with the horizontal infrastructure submittals soon.