Denver real estate developer wont re-zone Belcaro King Soopers site

Denver-based Kentro Group, led by the Balafas brothers, has decided not to seek a rezoning of the 7-acre retail site at 825 S. Colorado Blvd. after facing opposition from nearby homeowners. The firm, which is slated to buy the property from Kroger when King Soopers relocates, will work within the existing three-story zoning.

While Kentro had initially considered redeveloping the property with up to 500 apartments under the existing zoning, plans for a potential rezoning to allow for a mixed-use development with up to 12 stories were met with resistance from the Belcaro neighborhood residents. The proposed high-rise project faced opposition due to concerns about its impact on the surrounding single-family homes.

Despite the setback, Kentro is exploring options that include either developing apartments within the current zoning regulations or retaining the existing shopping center and seeking new tenants for the retail space. The decision not to pursue a rezoning allows Kentro to move forward with determining the best course of action for the property.

The community engagement process, which included meetings with neighbors and opposition from the Belcaro Park Homeowners Association, presented challenges for Kentro. However, co-founder Jimmy Balafas remains committed to creating a project that aligns with the community’s interests.

With the future plans for the site still under consideration, Kentro is focused on finding a solution that balances the needs of the neighborhood with the firm’s development goals.