The King Soopers grocery chain said last week that it will build a $100 million warehouse and distribution center at Denver's Stapleton Airport.
The grocery chain will construct the center on 185 acres -- located between two runways -- that it has purchased at Stapleton. Denver officials said the deal, whose price tag will be disclosed later, would foster other redevelopment efforts at the 4,700-acre airport.
King Soopers, a subsidiary of Cincinnati-based Kroger Co., becomes the first tenant in the redevelopment of Stapleton, which will be closed when Denver International Airport opens in December.
Part of the financing package for the $3 billion Denver International calls for $100 million in revenue from redeveloping Stapleton. Denver Mayor Wellington Webb said the deal "is a big step in the right direction" toward realizing the redevelopment goal.
King Soopers had been looking to relocate its warehouse and headquarters for 69 stores from the current location at the intersection of 1-70 and 1-25 in Denver. The heavily industrialized area has become snarled in road construction and traffic problems.
King Sooper's plans call for a frozen food warehouse to open in October of next year. Eventually, 3,000 employees will work at the site, company officials projected.
The state Office of Business Development has committed up to $200,000, for King Soopers employee training programs. King Soopers will also benefit from tax credits because the Stapleton area is classified as an enterprise zone.
