Construction has begun at Parachute industrial park |

Construction has begun at Parachute industrial park

Heidi RiceGlenwood Springs, CO Colorado
Mike McKibbin/The Citizen TelegramAt the Parachute Park groundbreaking are, from left, Mary Anderson, president of the Parachute/Battlement Mesa Chamber of Commerce;Robert Knight, Parachute town administrator; an unidentified woman; Hayden Rader, president of Parachute Development Corp.; and Del Dawson of RE/MAX Realty.

PARACHUTE, Colorado – After more than 16 years, the Parachute Park industrial and commercial project is finally coming to fruition, having weathered the oil shale bust in 1982, holding a groundbreaking ceremony held Thursday evening.Construction of the project started in mid-August and infrastructure improvements are expected to be complete by November.Developer Hayden Rader has spent nearly $6 million to complete the project.”I’ve seen this since the very beginning,” said Steve Carter, who has been the town’s attorney since 1973. “It was always there, but it took an awful lot of patience on (Rader’s) part and the town’s part.”The project began as a major industrial development in the 1980s.”The pipes were in the ground and everything was approved,” Carter recalled. “But it all came to a screeching halt and just stopped dead on Black Sunday. The owners and developers went bankrupt and the property was foreclosed on. It ended up being a huge mess.”In 1992 Rader took over the 100 acre parcel of land, which includes 80 acres zoned for light industrial and commercial and another 20 acres to the north on County Road 215 (Parachute Creek Road). The property, which sits off Highway 6 and 24, includes 18 industrial and 6 commercial lots, ranging in size from 1-3 acres. Condominium units are also expected to be built in the spring of 2009. Rader said he already has some buyers lined up and is talking to others.”Marathon Oil is putting in an office, and there are a number of other gas and oil companies,” he said. “There’s a storage facility, and we’re talking to some hotels and restaurants.”The development will be one of the largest of its kind in the Roaring Fork Valley.”There’s nothing out there like this,” Rader said. “This is capturing a market that is in demand. And you wouldn’t even know it’s there because you can’t see it from the highway.”Property owners in the development will have all the town amenities, including curb and gutters and street lighting. It sits on both County Road 215 and Highway 6 and 24 and the site of the future right of way bypass.”This is a very high-end industrial park,” Rader said. “We had to start over with new plans and engineering, and it’s been a really long process.”For more information about lots in Parachute Park, contact Del Dawson at RE/MAX Country at 250-8400.

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