A former Albertson’s big box grocery store in northern Fort Collins that has been closed for the better part of a decade may soon be upgraded by the city for a new use.
The city’s Urban Renewal Authority has signed a letter of intent to buy the 51,000 square-foot building, which is located at the intersection of Wilcox Lane and North College Avenue.
According to sources the building – if finally, officially purchased – may be used as a community center or for affordable housing. Earlier proposals have suggested that it might serve as a workforce development center or a branch of the Fort Collins public library system.
A survey released by the URA in 2020 suggested that respondents additionally wanted to see the building used for a combination of entertainment and recreational purposes.
City officials have for years been trying to find a new use for the structure after the Albertson’s chain, which originally opened the store in 1996, ceased operations some nine years ago.
The structure is currently owned by the San Diego-based Realty Income Corporation.
Earlier this summer, the Coloradoan newspaper suggested that if the URA and Realty Income Corporation are unable to agree on a price for the building, the city could hold in reserve taking the property through eminent domain, a tool that local governments often use to “take private property for public use in exchange for fair market value.”
By Garry Boulard
