An agreement is in place for a local bike shop to purchase the relocated historic El Rancho building in Evergreen.
Evergreen Bicycle Outfitters plans to move its shop to the main floor of the El Rancho space, as well as reinstate the original brewery and upstairs lodging to bring the structure back to life, according to a Monday afternoon news release by JLL and local developer Observatory Holdings.
The business has been a community hub for riders, families and events for more than two decades.
“As longtime residents and small-business owners in Jefferson County, we are honored to restore El Rancho, one of the county’s most cherished and iconic landmarks,” said Jake Signet, of Evergreen Bicycle Outfitters, in the news release.
This action comes after convenience store and gas station chain QuickTrip purchased the land where El Rancho sits for $6.17 million earlier this year. QuickTrip agreed to permit the El Rancho building to be moved across the street, but only if a new owner was secured.
Now, Observatory Holdings is seeking metro district approval from the county to those implement plans.
“This new location at The Observatory offers a chance to preserve the spirit of the building and its place in our community. We are committed to honoring the legacy of this building, and urge the Board of County Commissioners to approve the metro district, which will be essential for us to accomplish this goal,” Signet said.
The approval would mean that the 16,000-square-foot El Rancho venue can be relocated across U.S. 40 to join The Observatory, a development that will feature a standalone retail or dining concept, a 112-key hotel and an 8,000-square-foot building equipped for restaurant operators or other retail concepts.
JLL, which is marketing lots for sale or lease on behalf of Observatory Holdings, is pursuing both national and local users for the project.
“Evergreen Bicycle Outfitters’ vision for the future of El Rancho is exactly what we imagined – combining the past, present and future of Evergreen in one iconic venue,” said Jack Buchanan on behalf of Observatory Holdings.
“Receiving county approval to move forward with the metro district will allow us to make the next chapter of El Rancho a reality for Evergreen.”
While the restoration of El Rancho is privately funded, the metro district will help finance the public infrastructure, such as roads, utilities, sidewalks and other community-serving elements.
Without metro district approval, the development will still move forward, but without the El Rancho building.
“Moving that structure comes at a tremendous cost of time and resources, and is not economically viable without a metro district,” Buchanan said.
The decision on metro district approval goes before the Jefferson County Board of Commissioners on Sept. 30.