MR. MIXED USE

July 19, 2012 | 8:00 am ET Staff Reporter

Leave it to a developer raised in the Mile High City to be bullish on its prospects—enough to bet $180M on it.

We chatted with Atlanta-based Fuqua Development's Jeff Fuqua (the horses refused to comment) this week about the former University of Colorado Hospital campus, now an ambitious $180M redevelopment program capped by plans for a unique urban-styled Walmart. Jeff joined forces with Texas-based equity firm Lionstone Group to demolish 2.5M SF of existing buildings and replace it with 300k SF of retail space, 325 apartment units and the renovation of the former nurses domitory into a planned office building.

Here's one view of the whole project we rendered in Crayola. Fuqua will develop a 117k SF, multi-story Walmart that will be elevated “so you park underneathit,” Jeff says. “It's a very urban store. And it doesn't have the drive-thru pharmacy and a garden center.” Still, even with the scopeof the commercial space, half the retail project and all of the mulitfamily portion will still be encompassed by parking decks. Jeff was mum on other retailers in talks for space there but says you will see a natural foods retailer, three other anchor tenants, and many restaurants.

A second view of the U of C hosptial redevelopment. Fuqua Development is eyeing four other properties in Denver for other retail-focused mixed-use projects. It's rumored that Trader Joe'sis taking the corner of Colorado Blvd and East Eight Ave (good spot for Two Buck Chuck), but Jeff declined to comment on specifics. Born in Salida, Jeff is a hometown boy, growing up in Lakewood and attending the U of Denver before he headed to Florida and eventually Atlanta to blossom in a development career. Jeff says Denver's economy justifies the investment. Plus, a "real good administration" also helps the environment.