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Costco No. 2 set to open Oct. 29

Megadiscounter will anchor University Village Colorado October 13, 2009 1:06 PM WAYNE HEILMAN Costco plans to open its second Colorado Springs store in the University Village Colorado shopping center on Oct. 29, becoming the first retailer to open in a $54 million urban renewal project designed to remake North Nevada Avenue into a gateway for the city. The popular membership warehouse retailer is the anchor tenant for a 650,000-square-foot retail complex. The 80-acre project is part of a much larger 390-acre area along North Nevada that was designated for urban renewal nearly five years ago by the Colorado Springs City Council. Costco opened its first Colorado Springs store in February 2008 at 5885 Barnes Road, near Security Service Field. A preview held mostly for employees, their families, suppliers, Costco members and local dignitaries drew about 5,000 people and snarled traffic for hours. Costco expects a similar crowd for an invitation-only preview party for the North Nevada Avenue store on Oct. 28, said Bob Hicok, senior vice president and regional manager for the company’s stores in San Diego, Arizona, Colorado, New Mexico and Nevada. Jim Sinegal, Costco’s president and chief executive, is scheduled to attend both the preview party and public opening, but will leave the ribbon-cutting to the store’s manager, Tom Zeien, Hicok said. Hicok said sales in Colorado Springs have been encouraging. “If business is as brisk at the new location as it was at the first location,” he said, “we will take another look at this market in about a year.” The North Nevada Costco will be among the largest of the company’s 12 stores in Colorado. At 158,598 square feet, it won’t be much different from its first Colorado Springs store, featuring a gas station, optical shop, one-hour photo lab, pharmacy and meat, bakery and deli departments, Hicok said. An adjoining, 5,000-square-foot liquor store will have a separate entrance and will be operated by a separate company to comply with Colorado liquor laws, he said. Kevin Kratt of Kratt Commercial Properties, which is developing the center, did not return calls seeking comment about the Costco opening. The Colorado Springs Urban Renewal Authority sold $54 million in bonds to widen Nevada Avenue, bury power lines, build an underpass between the shopping center and the University of Colorado at Colorado Springs, and upgrade sidewalk, traffic signal and street lights. For years, the area was a collection of shabby motels, a trailer park and other small businesses. UCCS owns land on the east side, where it envisions a jobs-generating research and development park and cultural and sports facilities, among other amenities. -------------------------------------------------------------------------------- ALSO COMING TO UNIVERSITY VILLAGE COLORADO • Oct. 28: Smashburger; Panera Bread • Later this year: Veda Salon • By January 2010: Chipotle Mexican Grill; Noodles & Co.; Tan Your Hide tanning salon • February 2010: Lowe’s, according to Kratt Commerical Properties website • March 2010: Kohl’s, according to Kratt Commerical Properties website • Opening date not yet set: Famous Footwear; Indigo Joe’s Sports Pub