Twin Peaks Mall will be demolished this summer to make way for The Village at the Peaks shopping center. Fort Collins-based NewMark Merrill Mountain States received the title to the Dillard’s department store building on Tuesday, Feb. 18. Dillard’s had held veto power over any redevelopment at the mall.
The Longmont Urban Renewal Authority in January reached a $5.5 million agreement to settle its eminent-domain case against Dillard’s for the 94,000-square-foot store and the 7.1 acres around it. NewMark Merrill representatives are finalizing “a number of leases” for the new $85 million Village at the Peaks shopping center to be built at the site, now that uncertainty about what’s going to happen to the Dillard’s store is over. Note: The sooner construction begins on the new mall; the sooner tax revenues will go into the City’s coffers. And of course, a revitalized mall is another amenity REALTORS can offer to clients considering a move to Longmont.