PACE lot 2
About the Site
With a placement between Mainstreet and the PACE Lot, PACE Lot 2 is a strip of land that offers developers unique opportunities. This site also allows a view of the PACE Center many residents would like to preserve.
By the Numbers
Property Information
60,984 SF
Site Area
$130,787
Estimated Annual TIF Revenue to P3
$47,025
Estimated Annual Sales Tax to Parker
Potential Development Space
25,200 SF
Residential Space
13,900 SF
Retail/ Restaurant
140 Spaces
Parking
Zoning
Greater Downtown Zoning District:
This district seeks to create a destination where the community comes together to live, work, shop, and play. Development must also provide usable space and allow for easy orientation and convenient access to all visiting the area, no matter their transportation mode.
The Market Analysis
A market analysis outlines what the economy will realistically support in the Town of Parker. The goal of the market analysis was to:
Analyzes market demands for specific community needs and identify the changing market demands and demographics
Inventory current business types, industries, and commercial spaces and analyze what works well
Conduct a financial analysis to see what kind of businesses the community can support
The identified uses for PACE Lot 2 are:
Retail & Restaurant Complex
A retail and restaurant complex features a wide range of shops and dining options for those visiting an area. In most cases, these shops will be on the ground floor with either office or living space on the upper floors.
Amenities for this Site could also Include:
View to PACE Center
Outdoor plaza space
Public Input
Over a six week period, we asked Council members, Parker residents, and Town employees what they wanted to see developed on this site in downtown Parker.
In-person sessions, community events, and online engagement through Let’s Talk Parker showed that most residents are aligned on what they want to see developed on this site.
Vision Plan for PACE Lot 2
After months of engagement, the Parker community can expect PACE Lot 2 to be transformed into a multi-functional space in the next few years. This space will incorporate parking and multi-use space with office, residential, retail, and restaurant space.
