Lakewood officials celebrated the beginning of a significant transformation in the city's downtown core yesterday. The commencement of the Lakewood Downtown Development Project was marked with a groundbreaking ceremony hosted by the City of Lakewood and the real estate company CASTO. This event, according to a City of Lakewood release, signals the start of a redevelopment effort at the former Lakewood Hospital campus.
The project promises to revitalize a central part of Lakewood, injecting an estimated $119 million into new construction and historic rehabilitation. According to the City of Lakewood release, the development will introduce hundreds of housing units and thousands of square feet of new retail space, culminating in an appealing public plaza designed to be a focal point of community activity. Although the redevelopment celebrates the city's forward thrust, Mayor Meghan F. George said, "This development will welcome new residents, add economic vitality, and provide wonderful new public space in the heart of Lakewood."
Emphasizing the comprehensive benefits that the project is poised to bring, Mayor George extended gratitude toward everyone who contributed, from CASTO's development team to city staff, the City Council, and Lakewood residents whose input was instrumental in shaping the community vision. The planned housing includes 303 units, consisting of both new and renovated apartments and townhomes. Moreover, the integrated 567 structured parking spaces are intended not only to serve the development but also to accommodate public parking needs.
The project ambitiously sets out to bolster Lakewood's downtown business district by incorporating about 25,000 square feet of new ground-floor retail. Along with these functional elements, the development will feature ample outdoor community spaces, including a 17,000 square foot plaza for public events. These spaces, accentuated by the linear park along Belle Avenue, aim to offer new venues for community connection. Reflecting on the project's scope and its democratic underpinnings, Lakewood City Council President Sarah Kepple commented in the release, according to the City of Lakewood, "Throughout the process, this project has been strengthened by the active participation of our community."
Taking a phased approach to the construction, the development is slated for completion in Spring 2028. Initial efforts will focus on erecting the parking structures, followed by the residential and commercial spaces. Brent Sobczak, President of CASTO Communities, told the city in a statement that they're "thrilled to break ground on this transformative project," describing it as a new community hub that goes beyond mere bricks and mortar. This sentiment echoes the overarching theme propounded by both the city and the developers that the project is as much about creating a lasting legacy as it is about urban development. Mayor George also acknowledged various administrative departments and the Lakewood City Schools for their roles in facilitating key financing elements vital for the project's initiation.
