FOR IMMEDIATE RELEASE: May 6, 2003	CONTACTS: Tom Gleason Forest City Stapleton, Inc. (303) 382-1800 tgleason@fcdenver.com Robb Brown (Regional Leasing Director) Forest City Stapleton, Inc. (303) 382-1800 rbrown@fcdenver.com Dan Miller (Listing Agent) Sullivan and Hayes (303) 370-7455 dmm@sullivanhayes.com
Stapleton Announces Retail Tenants for its First Town Center Neighborhood Retail to be Anchored by King Soopers Store and Town Green
Denver—Forest City announced today an inviting array of local and national retail shops for the East 29th Avenue Town Center that will open this fall in the first residential neighborhood at Stapleton. The East 29th Avenue Town Center is the first of several town centers that will be located in the heart of the pedestrian-friendly neighborhoods now taking shape at Stapleton. Designed by Denver’s Urban Design Group, the Town Center features apartments overlooking a 2.5-acre town green and residential lofts and offices located above “main street retail.” The town center is anchored by a 58,000 square foot King Soopers Grocery Store that is preparing to open in mid summer of this year. “Stapleton has been the recipient of national and international awards for its thoughtful approach toward ‘smart growth’ and an environment that brings jobs, shopping and entertainment within walking distance of housing that is affordable to a wide range of incomes,” said John Lehigh, chief operating officer for Forest City Stapleton, Inc. “When it opens in the fall of this year, the East 29th Avenue Town Center will further enhance Stapleton’s reputation as a community of neighborhoods that are setting a new standard for ‘the art of urban living’ in Denver,” he added. Among the retailers who have committed to lease or purchase space in the East 29th Avenue Town Center are: Noodles & Company Chipotle Coldstone Creamery Jerusalem Restaurant Get Fired Up Pottery Stanley’s Hare Shop Asante Day Spa henri's of Denver (women clothier) Walgreen’s First Bank Commercial Federal Fantastic Sam’s Town Center Dentistry (Dr. Brett Kessler and Dr. Gina Kessler) E. 29th Avenue Wine and Spirits Amore Fiori Flowers Mr. Lehigh noted that negotiations continue with a well-known coffee company, a dry cleaner, and other prospective tenants who have signed letters of intent to locate at the East 29th Avenue Town Center but have not yet finalized their contracts. Additional negotiations are being conducted with a bakery, specialty sports retailer, and a neighborhood pub. Only 19 percent of the nearly 200,000 square feet of retail space in the first town center (which includes the grocery store) remains available. Dan Miller of Sullivan Hayes is Forest City’s leasing agent for the property. More than 325 single-family homes are already occupied in the first neighborhood at Stapleton and another 300 are under construction in what will become over the next fifteen years a community of 8,000 single family homes and 4,000 apartments that are home to more than 30,000 residents. One hundred of those apartments are scheduled to open in late summer of this year as affordable housing for seniors on the southern portion of the East 29th Avenue Town Center. The first phase of the 234 units of the market rate Town Green Apartments in the heart of the town center are under construction and slated to open in the fall of this year. The East 29th Avenue Town Center is also the location of Roslyn Court, 80 condominiums, fourplexes and carriage homes priced from $125,000 for a one bedroom home to $176,000 for a three bedroom home, affordable to families earning from $30,000 to $60,000 a year. The first homes at Roslyn Court, which is being developed by TP Development LLC, are also scheduled to be occupied this fall. Forest City Enterprises, Inc. (NYSE:FCEA) (NYSE:FCEB) is a $4.9 billion NYSE-listed real estate company headquartered in Cleveland, Ohio. The Company is principally engaged in the ownership, development, acquisition and management of commercial and residential real estate throughout the United States. The Company's portfolio includes interests in retail centers, apartment communities, office buildings and hotels in 20 states and the District of Columbia. More information about the redevelopment of Stapleton is available on the web at www.StapletonDenver.com or www.fceinc.com.