Loveland's New Horizon: Avenue South Begins Vertical Ascent

LOVELAND, Colo. – April 29, 2026 – At the bustling intersection of Interstate 25 and U.S. Highway 34, the future of Loveland is beginning to rise. Developer Realberry officially marked the start of vertical construction this week on Avenue South, a landmark 140-acre mixed-use district that represents the next major evolution of the award-winning Centerra community. The move from sitework to steel frames signifies a pivotal moment for a project poised to introduce a new walkable urban core to Northern Colorado, integrating thousands of homes with a vibrant mix of retail, dining, and corporate offices.

At a groundbreaking ceremony on Tuesday, local leaders and project partners gathered to celebrate the milestone. The event transitions the long-planned district from architectural renderings into a tangible reality.

Crafting a Modern Urban Village

Avenue South is designed not merely as a collection of buildings, but as a cohesive, walkable neighborhood. The vision is to create a live-work-play environment that serves as a central gathering place for the region. The retail core, which is the focus of the current construction phase, is slated to feature 33 retailers and 18 restaurants, anchored by the highly anticipated arrival of Loveland's first Whole Foods Market. This addition is seen as a significant draw, signaling the developer's confidence in the area's demographic and its demand for premium amenities.

Central to the district's design is a 3.2-acre park, event lawn, and amphitheater known as The Front Porch. This sprawling green space is intended to be the social heart of Avenue South, hosting everything from concerts and seasonal festivals to everyday community activity. By prioritizing pedestrian-friendly pathways, open space, and social infrastructure, the project aims to foster a strong sense of community and create a destination that encourages residents and visitors to linger.

An Economic Engine for the Region

The economic implications of Avenue South are substantial for Loveland and the broader Northern Colorado corridor. At full buildout, the project is expected to inject a significant number of jobs and create a powerful economic hub that complements the existing Centerra development, which already supports over 8,500 jobs and 150 businesses.

"Centerra has always been a long-term commitment," said Troy McWhinney, Co-Founder and Principal of Realberry, at the ceremony. "Over the past 25 years, we've worked alongside the City of Loveland and our partners to execute on a vision designed to serve our Northern Colorado community in real, lasting ways. Avenue South is the next step in that evolution... we're proud to be moving forward with a district that brings new energy, new investment and new opportunities to the region."

The development will feature 150,000 square feet of office space, most of which is already spoken for. In a major win for the city, general contractor Hensel Phelps will relocate its corporate headquarters from Greeley, occupying a new 140,000-square-foot building within the district. This move alone anchors the commercial component and is expected to bring hundreds of high-quality jobs.

Loveland Mayor Patrick McFall praised the project as a model for regional growth. "Avenue South reflects the kind of thoughtful and responsible growth we want to see in Loveland, creating jobs, expanding housing opportunities, and strengthening our local economy," he stated. "Projects like this happen through strong partnerships and long-term planning, ensuring development supports both our current residents and the future of our community."

Addressing Housing Demand and Infrastructure

Avenue South arrives at a critical time for Loveland's housing market. While the market is considered more balanced than in recent years, with median single-family home prices hovering around $550,000, significant demand persists. The project's plan for nearly 2,000 new residences—including 475 single-family homes and approximately 1,250 apartments, condos, and townhomes—directly addresses this need across various price points. With the city's rental vacancy rate sitting at a tight 1.4%, the addition of new multi-family units is particularly welcome.

Vertical construction on the residential components is slated to begin in 2027, entering a market where inventory remains a key concern. The scale of the development has naturally raised questions about the capacity of local infrastructure. However, the project's formal approval by the City of Loveland in 2023 followed a rigorous planning process that would have included comprehensive studies on traffic, utilities, and public services. Furthermore, the development benefits from major regional upgrades, including the ongoing expansion of the I-25 corridor, which is designed to handle increased capacity for the growing Northern Colorado population.

Extending a Legacy of Sustainable Development

Avenue South is not being built on a blank slate but is instead an extension of Centerra, a 3,000-acre community with a 25-year history of pioneering sustainable and integrated planning. This legacy provides a framework for how the new district is expected to develop.

Centerra is the first community in Colorado to be certified as a National Wildlife Federation (NWF) Community Wildlife Habitat, a testament to its commitment to preserving and integrating natural spaces. It also holds the state's first Sustainable Landscape Community designation, recognizing its efforts in water conservation and responsible land management. The master plan includes hundreds of acres of wetlands and open space, miles of trails, and the unique Chapungu Sculpture Park.

By extending these trail systems and adding significant new green space like The Front Porch, Avenue South aims to build upon this foundation of responsible development. This approach seeks to balance the economic and housing needs of a growing city with a commitment to environmental stewardship and a high quality of life, a philosophy that has defined Centerra's success and one that Realberry is carrying forward as it builds this new chapter for Loveland.