DENVER (CBS4) – The City of Denver approved a 30,000-square foot development in Denver’s Cole Neighborhood. EXDO Properties plans to build a large supermarket and apartments in the area of 36th Avenue and Downing Street.
The neighborhood is considered one of Denver’s “food deserts.”
“We’re seeing lot of growth here, now it’s time for a grocery store,” said Andrew Feinstein, lead developer at EXDO Properties.
EXDO Properties doesn’t just build in the area, they live here too.
“We’re located right across the street. We run business here. Many folks in our organization live in this neighborhood,” said Feinstein.
In addition to bringing 100 new jobs to the area, 10 percent of the apartments going in will house families making 60 percent of the area median income.
“We’re very sensitive and respectful to local concerns. This project will have affordable housing for folks who live in this neighborhood and jobs for folks who live in this neighborhood,” said Feinstein.
He says he’s heard a lot of positive feedback about the grocery store from Cole neighbors. Just blocks away in Five Points, residents are hoping for a more convenient store of their own.
“We moved in here in 1999, and there’s always been a convenience store on the strip,” said Fathima Dickerson, an employee at Welton Street Cafe.
She’s beginning to miss the popular convenience store, Five Points Market. It recently closed because of the increase in rent.
Dickerson told CBS4’s Tori Mason that customers of the Market aren’t likely to benefit from Cole’s new supermarket, especially the elderly.
“The newcomers will probably utilize and benefit from that opposed from the people who have been here,” said Dickerson.
EXDO hopes to have the new grocery store open for businesses by the third quarter of 2021. They are not yet able to provide details about what company will be moving in.