Hy-Vee Property Officially Sold to Alatus for Major Development


Hy-Vee Property Officially Sold to Alatus for Major Development
Revitalization of the site located at 4300 Central Ave NE has long been a priority for the City. This year, staff worked with the development company Alatus to negotiate a deal to purchase 10 acres of property from Hy-Vee (the City owns an additional three acres of the land) to build a mixed-use development project that, if approved, would be the biggest development project in Columbia Heights in 100 years. Alatus became interested in the land and its potential after working with the City on the 40th Ave City Hall project. The company sees this as a way to build on the investment it's already made here, said Aaron Chirpich, community development director. 

Though subject to change, the initial proposal includes:  
-Between 20-60,000 square-feet of retail space anchored by a grocery store on the east side
-400-600 market-rate apartments on the east side above the retail space
-A substantial City park/public open space amenity at the center of the development
-Significant upgrades to area infrastructure for storm water and sanitary sewer utilities 
-A low density, single family housing development on the west side of the property  
-Underground parking
-Environmentally sustainable amenities, such as solar panels, rain gardens, and high efficiency heat/cooling

Alatus closed on the purchase of the site Aug 6. The City will seek public feedback as plans move forward, with particular focus on the public park portion of the project. It would be a new City park in an area that otherwise doesn’t have one. The project has the potential to grow the City’s tax base considerably, continue the City’s goal of revitalizing Central Ave, and attract future investments from other developers, Chirpich said.