The Parker Authority for Reinvestment (PAR) is working with the Parker Water and Sanitation District to purchase its 6,700 square foot office building, located at 19801 E. Mainstreet in Old Town Parker.
This prime site, located on a highly visible corner property in Old Town Parker, is positioned to support and influence future development on the eastern portion of Mainstreet. The acquisition of this property will allow PAR to facilitate private sector redevelopment consistent with community vision and current East Mainstreet development trends, which have evolved from low intensity uses and vacant sites to vertical mixed-use buildings.
“A primary purpose of the Parker Central Area Urban Renewal District is to facilitate the redevelopment of underutilized sites,” said Economic Development Director John Hall. “This project not only supports that goal, but will provide an opportunity to continue to enhance this important area.”
While PAR markets the property for redevelopment, the building will be leased on an interim basis to provide offices for the Town of Parker’s Economic Development Department and associated functions to create a one-stop business assistance office.
Over the past 10 years, the Town and PAR have made significant infrastructure investments in this area, including road, utility and streetscape improvements, as well as the construction of Town Hall in 2002 and the PACE Center in 2011. The Town is also partnering with Douglas County Libraries on the construction of a new Parker Library, which is anticipated to open in 2015.