Prism to Partner with McWhinney, Develop Mixed-Use Commercial Centers in Northern Colorado Master-Planned Communities

Avenue South in Loveland's Centerra and Center Street in Broomfield's Baseline will see 213 acres of new retail and commercial space as part of collaboration

DENVER, Dec. 6, 2024 /PRNewswire/ -- Today, Prism Places, an innovative CRE management and investment firm with $2.5 billion AUM, announced a partnership with award-winning developer McWhinney to realize two separate commercial districts in Northern Colorado. Both projects are located in the growing suburbs north of Denver and are within master-planned communities in development by McWhinney.

The first, Center Street, is expected to serve as the business district for Baseline—a 1,100-acre master-planned community in Broomfield, Colorado. Inspired by the simplicity of Colorado's natural beauty and the value of sustainability, the walkable commercial center is planned to be 312,000 square feet including 80,000 square feet of office, 116,000 square feet of retail, 37,000 square feet of grocery, and 78,500 square feet of restaurant space. This is in addition to more than 400 anticipated residential units. Center Street, to be designed by the award-winning studio Michael Hsu Office of Architecture, already has a confirmed lease with an organic grocer.

The second district, Avenue South, is envisioned to fulfill the role as the business and commercial hub for Centerra, a 3,000-acre master-planned community in Loveland, Colorado. Avenue South plans to embody the spirit of American Main Street with a mix of iconic and local brands. Totaling 326,000 square feet, the district is anticipated to include 128,000 square feet of retail, 72,000 square feet of restaurant space, 127,000 square feet of Class A office and over 1,750 new residential units. Avenue South, which also has a 37,000-square foot lease signed with an organic grocer, will be designed by Architects Orange.

Both projects envision a curated collection of sought-after brands, culinary talent, breweries, coffee shops, fast-casual favorites, wellness, fitness and other services. Avenue South is expected to break ground in November 2025 and Center Street is slated for groundbreaking in September 2026.

"Both Avenue South and Center Street will provide these growing communities with exciting new places to shop, eat, and hang out," said Prism Places Founder and CEO Stenn Parton. "At Prism, we strive to create places that communities are proud of—places that are as dynamic and unique as the communities they reside. Together, McWhinney and Prism listened to each of these communities; our mandate now is to deliver distinctive experiences that reflect the DNAs of both Loveland and Broomfield, respectively."

"Our Centerra and Baseline master-planned communities are clear examples of how collaboration and thoughtful partnership can generate smart growth and create places people love," said Chad McWhinney, CEO, Chairman & Co-Founder of McWhinney. "Prism Places has proven to be a dedicated, nimble partner that understands the key role retail plays in mixed-use settings. By blending innovative commercial spaces with opportunities for connection and creativity, we're proud to be creating districts that will ensure Centerra remains a vital hub in Northern Colorado and that Baseline further establishes itself as Colorado's next great economic center."

McWhinney and Prism Places have partnered previously in 2021 on a joint venture to redevelop the Foothills Mall in Fort Collins, Colorado, an ambitious ongoing effort that further reflects the companies' shared commitment to developing vibrant destinations in Colorado.

About McWhinney
McWhinney is passionate about creating places people love. Guided by its values – respect, integrity, perseverance and legacy – the company cultivates communities with a unique sense of place, focusing on value-generation, sustainability and connectivity. To date, the full-service real estate investment, development and management firm has planned and developed over 6,000 acres of master-planned communities and 13 million square feet of mixed-use, industrial, residential, multifamily, hospitality and office properties.

McWhinney's long-standing history began with a Colorado homestead over 150 years ago, culminating in the creation of the company in 1991 and continuing today with a diversified real estate development vision shaping the landscape of communities concentrated in Colorado's Front Range and the Western U.S.

Select recent McWhinney company and project accolades include both ULI Americas' and ULI Global's "Award for Excellence," Colorado Business Committee for the Arts' "Business for the Arts" award, Broomfield Council of the Arts & Humanities' "Business of the Year" award, the Associated Builders and Contractors Rocky Mountain Chapter's "Project of the Year" and "Excellence in Construction" awards and the National Association of Home Builders "Platinum Award – On-the-Boards." McWhinney's DEI Committee has also been recognized with an "Award of Achievement" by NAIOP Colorado. With sustainability at its core, McWhinney's Centerra community has been certified as Colorado's first National Wildlife Federation Certified Wildlife Habitat.

About Prism Places
Prism Places provides a new perspective on commercial real estate grounded in the insight that assets should generate value over their lifetime. This value creation results from an aligned vision, accountability, and active participation in the day-to-day operations of each property. Prism provides a fully integrated team with a dynamic understanding of the current market and consumer demands blended with the know-how to transform a property into a place that meets today's market and cultural demands and actively operate each investment with a diligent focus on creating value for generations, in short––places with purpose. The firm has operating partnerships with leading mixed-use projects, including RUNWAY Playa Vista in Los Angeles; Pasadena Commons in Los Angeles; and Legacy West in Dallas, Texas. All three management agreements are through a strategic partnership with Invesco to leverage the Prism operating platform for similar opportunities in the future.

Press Contact
Brenner Thomas
brenner@theleadpr.com
917.655.4003

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SOURCE Prism Places