The Creekside Shopping Center has created a ripple of improvements at the major intersection of Colfax Ave. and Wadsworth Blvd., which accomplishes one of the main objectives of any reinvestment plan. Creekside replaced a long-abandoned storefront with an attractive area of commercial activity, which spurred other companies and developers, such as Home Depot and the developer of Colfax Central, to build and revitalize along West Colfax Avenue.
An impact study shows that in 2008 alone Creekside produced $6.8 million in economic and fiscal benefits for the local economy, including $1.2 million in net revenues for the City. Creekside draws employees and shoppers from outside Lakewood to spend money, and it shows in sales tax revenue generated from this site.
The Creekside project was designated an urban renewal project in 1999 to address a site that contained a Kmart building that sat vacant for 10 years due to challenges associated with multiple ownership and drainage issues. Creekside is now home to a 220,000 square-foot Super Wal-mart and 49,000 square feet of additional retail and service buildings.
More Information: click on the LRA Annual Report in the documents section.
266,000 square feet