Developers ask Englewood City to expedite termination of city‑center ground lease; executive session set

A joint-venture developer team asked the Englewood City Council on March 3 to expedite termination of the city center ground lease on the former Weingarten property and to transfer title to New Inglewood LLC, saying the change is needed to attract capital and begin redevelopment work. The council did not make a decision and placed the item on the calendar for an executive session next Monday to discuss next steps.

The request was presented by Dan Parumba, chief redevelopment officer for Englewood City, and Brad Power, director of community development. Parumba said staff prepared a neutral memo that outlines "pros and cons" and that the decision is for council to consider. Stu Ogilvy, identified as president of Ogilvy Partners, and Chris King, president and CEO of DPC Companies, introduced the redevelopment team and described the partners’ experience repositioning large retail and mixed‑use sites.

Why it matters: the property is under a prepaid ground lease with roughly 50 years remaining, developers said, and the existing lease structure discourages major reinvestment. The developer team told council it would trade an estimated $20 million in property value to the city — citing the 24 Hour Fitness building, a ground‑floor condominium retail interest and a purchase option on Tokyo Joe’s — and agreed not to sign longer‑term retail leases that would block redevelopment for a two‑year period while master‑plan work continues.

Developers and staff framed three reasons for asking to expedite the termination: timing, the perceived limited near‑term value of a prepaid ground lease with decades to run, and the desire to begin expensive master‑planning and consultant work only after title certainty. "We are not specifically recommending this," Parumba said of the staff memo; "we thought we were at a point where it was really up to council to consider the pros and cons." Partner Dustin Jones told council, "We're asking for a termination of the ground lease," and described a target to begin construction as early as 2026 if the parties can move quickly.

Council members probed specifics. Council Member Ward asked why Tokyo Joe’s is proposed as a purchase option rather than part of an asset transfer; developers said the option preserves flexibility while making tangible assets available to the city. Council Member Wright pressed for protections in the event redevelopment stalls; developers said they expect to have invested substantial consultant and entitlement money before defaulting to a strategy of leasing remaining space, and they described the two‑year restriction on long retail leases as a commitment to allow future redevelopment.

Other questions focused on plan detail and public control. Council Members asked whether the concept plan in the presentation is illustrative (the team said it is), how affordable and subsidized housing might be included (developers said options would be presented to council and the community), how parking and RTD access would be addressed (the team has initiated contact with RTD but has not finalized plans), and whether work West of Inca would be included (developers said they want to be master redeveloper for the entire site but would not be presumptuous about the city’s intent and that the West Side could be handled separately).

Next steps: Mayor Pro Tem Anderson said an executive session focused on the proposal will be held next Monday night for council to discuss the matter in closed session. No formal motion to terminate the ground lease or transfer title was made at the March 3 meeting.

Votes at a glance: While the council took no final action on the city‑center ground lease termination, it recorded several formal votes later in the meeting. Notable outcomes include: approval of minutes for Feb. 18 (7–0); approval of a municipal code cleanup ordinance clarifying department responsibilities (CB7) (7–0); authorization to pursue the competitive sale of Parks & Recreation general‑obligation bonds (CB17) (7–0); approval of a planned unit development for 441 Englewood Parkway (PUD 441, Kimco) (5–2); and adoption of the city’s 2025 strategic plan (7–0). No budgetary appropriations or land‑transfer votes were taken on the city center item that night.

Community engagement and guarantees: Council members repeatedly emphasized the site’s community value and the need for safeguards. Several members said they want the city to retain control over portions of the site west of Inca and to see clear, enforceable commitments on timing, affordable housing and site activation. Developers said public outreach and community collaboration are planned and that they had been listening to stakeholders since acquiring the site in December.

Clarifying details: developers estimated roughly $20,000,000 in assets proposed to the city, the existing prepaid ground lease has about 50 years remaining, the site is approximately 30% occupied today, and developers estimated forgoing about $2,000,000 per year in potential lease revenue to avoid locking retail that would impede redevelopment. The developer team includes Ogilvy Partners and DPC Companies; the on‑the‑ground team named in the presentation included Stu Ogilvy (Ogilvy Partners), Chris King (DPC Companies), Dustin Jones (partner) and Tony Kill (vice president, DPC projects).

What’s next: council directed staff to schedule an executive session; if the council instructs staff to proceed with a termination and title transfer in later public action, staff indicated there would follow a redevelopment agreement process and additional community engagement before any final approvals or land conveyances.

Ending: Council members and the developer team agreed the project is complex and time‑consuming. For now, the request remains under consideration; the executive session next Monday is the scheduled forum for confidential council discussion before any public action is taken.