PRESS ROOM

The Streets at SouthGlenn: Denver’s Newest Mixed-use Shopping Destination Will Add Distinctive Style to the Region

Centennial, CO – June 15, 2006 – Construction on Denver’s newest upscale, mixed-use shopping district began today. Alberta Development Partners, LLC and Walton Street Capital, along with Centennial Mayor Randy Pye and other local dignitaries, celebrated the much-anticipated commencement of the development of The Streets at SouthGlenn. The new regional, urban shopping destination will be as varied and vital as the city with upscale retail and restaurant offerings and as convenient and comfortable as the suburbs with cutting-edge residential condominiums, parks and promenades.

Today’s breakthrough ceremony included details of the project development plans. Current plans call for nearly 1 million square feet of retail, an estimated 125,000 square feet of office and approximately 300 for-sale residential units, all of which will be built over the course of two years.

The Streets at SouthGlenn will be home to the Commons, a one-city-block-long park, which will feature a grand fountain and fireplace, mature landscaping, lush gardens and a playground, and it will be accented by a splendid outdoor café. Dedicated pedestrian plazas and promenades featuring European fountains will also be a part of the project.

Alberta Development Partners is in active discussions with distinctive local and celebrated national retailers and restaurateurs with nearly 80 percent of the available space under lease negotiations. The Streets at Southglenn will feature a gourmet grocery store, book store, 16-screen movie theater, library, community room, bistros with outdoor seating, fast-casual restaurant favorites and unique women’s and men’s apparel boutiques.

The Streets at SouthGlenn will provide unique amenities to both its visitors and its residents. Shoppers will enjoy free parking throughout the project, free valet service in two locations and property-wide wireless Internet connectivity. Visitors can also have their cars washed while shopping at The Streets at SouthGlenn. Home buyers will enjoy resident-only services including a rooftop pool and spa, a fitness center, a business center, library and craft rooms and concierge service.

Over the course of the redevelopment, Foley’s, which will become Macy’s in September, and Sears will remain open. Former Southglenn Mall tenant Walgreens has relocated to a temporary store location on the project and will move across the street to a new, permanent location in 2007.

“The Streets at SouthGlenn will energize the area by providing distinctive shopping, dining, working and living experiences,” said Don Provost, principal of Alberta Development Partners. “We’ve brought together leaders in architecture and design, including Callison Architects, Communication-Arts, SEM Architects, EDAW and Shook Kelly, to create a regional, mixed-use shopping destination with local culture and universal appeal.”

The Streets at SouthGlenn will have a distinguishing architectural character supported by classic design, a rich color palette, traditional materials and modern details that build on neighborhood character while providing public spaces that support community events and activities.

“Our goal is to create an upscale community-based center that offers shoppers and residents a place to go for both daily needs and special occasions that will be enjoyed for generations,” said Provost.

The ceremony concluded with track-mounted excavators demolishing the former Dillard’s building on the south side of the Southglenn Mall. The entire project is slated to open in summer of 2008. Upon completion, The Streets at SouthGlenn will be valued at $360 million.

About Alberta Development Partners, LLC
Alberta Development Partners, LLC is engaged in the acquisition, development and investment of retail real estate throughout the Front Range of Colorado, focusing on regional retail shopping centers and mixed-use commercial projects. The company has completed in excess of 220 projects with more than 4 million square feet of retail space with a completed value of $1.5 billion. Alberta’s experience encompasses projects for office, retail and residential communities.