What’s the Latest on Loveland’s Big ‘Draper’ Project Coming to Downtown?
A corner in Downtown Loveland is set for a major transformation, beginning before the winter of 2023-2024. They'll be constructing what will be dubbed "The Draper," with apartments, commercial space and more.
This corer in Loveland has sat dormant for many years, but soon we'll see the bustle of construction crews, and (probable) detours lasting well over one year. All of which should give way to something Loveland locals and visitors to town can hopefully embrace.
Those who have lived in Loveland for more than a while will remember the Heartland Café that was at the corner of 4th Street and Lincoln Avenue. The Heartland closed in 2015 and the building has sat empty since then. In 2021 it was announced a developer had come into turn that empty corner around.
Having grown up in Loveland, I for one am both hesitant and excited about The Draper project and how it will turn out. On one hand, renovating that northeast corner has been needed for a long time; on the other hand, will The Draper see Downtown losing some of its charm? The Reporter Herald was at a recent meeting with Loveland's Planning Commission as new some new light was shed on the project.
WHEN WILL THE DRAPER PROJECT IN LOVELAND BEGIN?
Though they had initially hoped to have the project completed in 2023, they won't be breaking ground on The Draper until late summer/early fall of 2023. I would expect them to start closing down at least one northbound lane of Lincoln and having one-lane closures of 4th Street east of Lincoln.
HOW MUCH WILL THE DRAPER COST?
It's a $32+ million dollar project, with an $11 million dollar parking garage- more on the garage, below.
HOW MANY STORIES WILL THE DRAPER BE? HOW MANY APARTMENTS?
The Draper will be five stories high with 96 apartments above the retail on the ground floor. No named businesses have been announced as of yet.
HOW WILL DOWNTOWN'S HISTORY BE INCORPORATED WITH THE DRAPER?
The Draper takes its name from when there was a Draper's Drug store located at the corner from the early 1900's to the mid-1980's. There will also be an alley, with its entrance off of 4th Street, towards the north; that alley will be named "Penney Lane" to recognize how J.C. Penney was along that area of 4th Street from 1915 to the 1980's .
THERE'S GOING TO BE A THEATER WITH THE DRAPER?
Since 4th Street used to have the Majestic Theatre (where the Odd Fellows are,) The Draper will, indeed have a theater. How that theater will compete with the Rialto has yet to be seen. A side note, to the west of the Odd Fellows sits and empty building (which will be part of the Draper) which used to be a Hallmark store that I worked at in high school.
WHAT ABOUT THE NEW PARKING GARAGE?
They will installing a new $11 million parking structure at 5th Street and Jefferson Avenue, where currently there is a flat lot that has 56 spaces. The City will be paying for the structure, which will have improvements over the structure at The Foundry. The new structure will bring a net of 171 new parking spaces for Downtown, plus reserved parking for residents of The Draper.
WHEN WILL THE DRAPER PROJECT BE FINISHED?
The new estimate is, if they do break ground by late summer of 2023, to have the project completed by spring of 2025.