Retail core advances next phase of development in Loveland
Realberry, a Colorado-based real estate investor and developer in commercial, multifamily, hospitality, residential and mixed-use assets, started vertical construction on the retail core of Avenue South, a 140-acre project in the award-winning Centerra community in Loveland. This milestone moves the project from sitework, which was announced earlier this year, into delivery of a walkable district that integrates retail and office space, dining and thousands of new homes at the intersection of I-25 and U.S. 34.
At the groundbreaking ceremony, Loveland Mayor Patrick McFall, construction and retail partners, investors and community members joined Realberry leadership to mark the milestone.
“Centerra has always been a long-term commitment,” says Troy McWhinney, co-founder and principal of Realberry. “Over the past 25 years, we’ve worked alongside the City of Loveland and our partners to execute on a vision designed to serve our Northern Colorado community in real, lasting ways. Avenue South is the next step in that evolution. It’s taken time, partnership and persistence to get here, and we’re proud to be moving forward with a district that brings new energy, new investment and new opportunities to the region.”
Approved by the City of Loveland in 2023, the Avenue South project extends miles of trails and open space while introducing large-scale retail, dining and gathering places to keep pace with neighborhood growth.
Avenue South’s retail core expects to deliver 18 restaurants, 33 retailers and the first Whole Foods in Loveland, directly adjacent to the Marketplace at Centerra. A new 3.2-acre park, event lawn and amphitheater (known as The Front Porch) are anticipated to anchor the district, bringing a mix of concerts, seasonal events and everyday activity into the heart of Avenue South.
“Avenue South reflects the kind of thoughtful and responsible growth we want to see in Loveland, creating jobs, expanding housing opportunities and strengthening our local economy,” says Loveland Mayor Patrick McFall. “Projects like this happen through strong partnerships and long-term planning, ensuring development supports both our current residents and the future of our community. I’m proud to see this investment taking shape and look forward to the positive impact Avenue South will bring to Loveland.”
At full buildout, Avenue South aims to offer nearly 2,000 residences, including 475 single-family homes and approximately 1,250 apartments, condos and townhomes. The district anticipates having 150,000 square feet of office space, anchored by a 140,000-square-foot corporate headquarters for general contractor Hensel Phelps, which is relocating from Greeley. Vertical residential construction is anticipated to begin in 2027.
The broader Centerra master-planned community supports more than 8,500 jobs, 4,500 homes and 150 businesses. The addition of Avenue South seeks to advance a long-term development strategy focused on connectivity and continued economic growth across Northern Colorado.
To learn more about Avenue South, visit centerra.com/avenuesouth.
