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Developer updates council on Broomfield Town Square; lenders engaged but equity and bond timing remain challenges
Summary
Developers told council the Broomfield Town Square remains in active design and permitting, with HUD financing pursued for two multifamily buildings, a prospective Market Hall office anchor identified and a targeted bond sale and potential groundbreaking roughly a year away, contingent on equity and permit timing.
Developers of the Broomfield Town Square project updated the council on site investigations, financing progress and the phasing of private and district infrastructure work.
Tim Fratagel (developer executive) said geotechnical and groundwater testing was under way at the existing pond and that the project team continued to advance construction documents for the district infrastructure (public‑facing backbone outside private property boundaries). He described the first phase as including a 318‑unit multifamily building, a 161‑unit building near existing tennis courts, approximately 35,000 square feet of ground‑floor retail and a Market Hall (repurposing the existing Safeway footprint). The developer said the two larger multifamily projects had completed HUD interviews and been invited to submit for HUD financing.
Fratagel told council that the largest outstanding…
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