The first
major project for the Foundation was the Table Mountain Inn. The Foundation
purchased the Holland House from the bank after the bank foreclosed
on the previous owners.
As
with subsequent projects, the Foundation began a search for a developer
who had great interest in Golden. The property was eventually sold
to Frank Day of Boulder. The Foundation leased with an option to buy,
the parking lot next to Woody’s to the Hotel. The Hotel eventually
bought the parking lot. The Foundation provided financial help to
the project through a second mortgage.
The
second major project was the former Golden Senior High and Junior
High School. The property was bought from the R-1 school district.
Through a very fortunate meeting between Mayor Marv Kay (also on the
Foundation Board) and Glen Porzak of the American Alpine Club, an
agreement was reached whereby the American Alpine Club and Colorado
Mountain Club purchased the property. The two organizations formed
the American Mountaineering Center. The sales agreement required the
AMC to retain the historic character of the exterior of the building
and invest in remodeling the building. It also required the American
Mountaineering Center to allow community use of the auditorium on
an availability basis.
More recently the Colorado Outward Bound School moved its headquarters
to Golden and has remodeled part of the building and added new space
that includes a conference center. Within the next year, the AMC expects
to complete the mountaineering museum. About $10 million will have
been spent on remodeling the building.
The
third major project was the Golden Hotel located on the northwest
corner of 11th & Washington. The Foundation purchased the 1.75-acre
site that contained two badly run down buildings. One of them had
historic significance, but an evaluation indicated that it couldn’t
be moved. The Foundation solicited proposals from interested parties
for the development of this site. The option to buy was extended to
a developer who was to put in a hotel. The project failed when the
developer couldn’t obtain the necessary financing. A second time,
the Foundation solicited bids and awarded the
contract to Scott Coburn who built the Golden Hotel.
Prior to the transfer of the title, the Foundation
undertook
the responsibility for the demolition of the buildings that contained
asbestos and the remediation of the site that was contaminated with
various organic materials left by the gas station and auto repair
shop.
The
fourth major project is called Clear Creek Commons. The Foundation
purchased the property at 11th and Washington, northeast corner, in
case it might be needed for developing the property where the Golden
Hotel now sits. The Foundation sought proposals for the development
of this property when it was determined that
it wasn’t needed by the Golden Hotel.
Peak
Properties and Development Corporation and HPD proposed building senior
housing on the site. The Foundation’s Board felt this was the best
use for the property and awarded them
a contract. Construction is in progress and it is expected that the
building is scheduled for completion in February of 2003.
The
Foundation provided a loan to GURA so that GURA could purchase the
Mitchell School site from R-1 school district. Clear Creek Square
is under construction under the direction of GURA.
The
Foundation purchased the property at 1211 Cheyenne, a historic home,
and then sold it to Mark Donelson who remodeled it for an office
while retaining much of the historic character, especially on the
exterior.
