Renovations delay at the Outlets extends finish date
SILVERTHORNE – A two-month delay in construction at The Outlets at Silverthorne has pushed back the project’s overall completion date until next fall, according to Outlets manager Rob Goodell.The first phase of the $13 million renovation project was completed earlier this summer with the opening of several new stores in the Trout Village, including Polo Ralph Lauren, Coldwater Creek and Banana Republic. Calvin Klein is expected to open on Thursday, bumping up the Trout Village’s occupancy to 100 percent. The village also underwent exterior improvements, such as new lighting and signs and a landscaped courtyard.The next two phases of the project, which plan for similar improvements in the Ptarmigan and Buffalo villages, were scheduled to begin in July, but have been postponed until this month.
Goodell said he could not comment on the reasons for the delay, but said it stemmed from a stall in “internal approval processes.”Alberta-based TGS North American REIT bought into the Outlets in March 2001 and holds 60 percent ownership of the 70-store shopping center. Local Sam Brown owns the remaining share. He also owns the Dillon Factory Stores.Though progress on the renovations was dormant for much of the summer, things picked up again last week when work began on a 4,000-square-ft. addition to the former Levi’s Outlet. Levi’s relocated to make room for Old Navy, which is expected to open in early 2006. Later this month, exterior work will commence on the remainder of the Ptarmigan Village. “It’s going to be weather-dependent how far we get,” Goodell said. “We will start and see what we can get done, then hold off (on finishing) until next spring.”
Work will not continue through the winter and renovations on the Buffalo Village will not start until next year’s construction window opens, Goodell said.The Silverthorne Town Council approved TGS’ site plan for the next phases of construction in early June.The original hope was to have the entire project completed by this holiday season, but Goodell estimates that the delay will push the completion date back until next fall.
Silverthorne town manager Kevin Batchelder said the town is fully confident that renovations on all three villages will be completed and is not concerned that any work will be left undone.Sales tax culled from the Outlets has continued to climb since five new stores opened in the Trout Village in the last six months. In June, the Outlets contributed 33 percent of the town’s overall sales tax figures and collections from the Trout Village rose 104 percent from June of 2004.Nicole Formosa can be reached at (970) 668-3998 ext.229, or at firstname.lastname@example.org
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