FirstBank proposes Carbondale branch | PostIndependent.com

FirstBank proposes Carbondale branch

Ryan Summerlin
rsummerlin@postindependent.com

First Bank is proposing a new bank in Carbondale on a northern lot of the same property on which City Market is proposing a new grocery store.

Last month Carbondale’s planning commission approved the preliminary plat, special use permit that was required for the bank’s drive-through and the bank’s site plan review.

Carbondale trustees will consider a subdivision plat for the new First Bank, possibly during their April 25 meeting, after a public noticing error forced the public hearing to be postponed Tuesday.

Per the City Market plans, two lots were left open. The new City Market would take up only three lots, while the remaining two remained open for future development.

The proposal subdivides a 7.6-acre northern lot, with a bank on one of the resulting lots and the other remaining undeveloped.

This new First Bank, which would be just under 5,500 square feet, would sit on the northwest corner of Colorado 133 and Nieslanik, extending Nieslanik west of the highway to run between the new bank and grocery store.

These plans, however, are dependent upon the City Market deal going through. And over the last year the developer of that project has requested four extensions to buy more time to close on the property.

Town staff anticipates that City Market will close on the land sometime in April, and construction is expected to begin this spring.

If the City Market deal falls through, this subdivision for FirstBank would also be vacated.

City Market’s division real estate manager has said that Kroger, City Market’s parent company, had reallocated capital in a way that delayed closing on the property at the northwest corner of Colorado 133 and Main Street.

Falling food prices nationwide prompted Kroger, the largest grocery store chain in the country, to dramatically cut its capital spending plans last year, start buying back about $500 million in stock and freeze capital improvements until the end of 2016.

Among recommended conditions of approval from town staff were a two-year time limit for construction to be completed once the plat is recorded.


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