The owners of the Regency Park shopping center at 93rd Street and Metcalf have proposed a $30 million redevelopment of the center and requested $6.5 million in public finance incentives to pay for reskinning the customer-facing portion of the building and constructing a new 5,000 pad building.
The proposed community improvement district would include the L-shaped building that currently houses Micro Center, Michael’s and Natural Grocers as well as the building in the parking lot that houses the new Billy Sims BBQ. It does not include the now-vacant Macaroni Grill building or the building that houses School of Rock. Here’s a map of the proposed district submitted by the developer:
The developers say their goal is to upgrade the aging facilities to make it more appealing to retail tenants. Those upgrades would include façade improvements using more modern materials. Here are a couple of renderings submitted by the developer of their concept for the new exteriors:
The project would also include the construction of a new building facing Metcalf, which the renderings show having Starbucks signage:
There would also be new monument signs marking the center:
The stretch of Metcalf from 97th Street to 89th Street is already seeing massive redevelopment, with LANE4 planning to bring a Lowe’s-anchored project to the former Metcalf South Mall site and Arbor Development, LLC, current working to create a mixed-use project between 89th and 91st called the Promontory.