Downtown Loveland’s ‘Draper’ Project Gets New $50M Plan

A corner in Downtown Loveland has been a Colorado eyesore for over 10 years. Soon, we will hopefully see things taking shape in a new start.

Heartland Cafe/Draper Drugs Building in Downtown Loveland Gets New Development Plan

By the summer of 2029, Downtown Loveland might see the completion of the new plan for what's been called the "Draper-Heartland Project" at 4th and Lincoln. According to the Reporter-Herald, a new developer is planning to come in with retail, offices, and apartments.

There are at least a couple of things that I think are great about the new plan: the developer, Mark Perko, is local, and he's been redeveloping downtown areas in Fort Collins and in Loveland for years. His company, River Redevelopment LLC, was behind the redevelopment of the southwest corner of 4th Street and Cleveland, where The Flipside anchors the corner.

The New Plan Comes With a Different Idea for Parking

Another interesting and good thing about the new plan, in my opinion, is that the parking garage that the previous plan had is not in the new plan: River Redevelopment's plan has them putting in an underground garage; the original plan had a parking garage going in just east of The Black Steer.

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According to the Reporter-Herald, if everything gets worked out financially, as planned, the $49 million project should begin in the late fall of 2027, taking 18 months to complete. River Redevelopment's plan includes 57 apartments on the north side of the new structure, not high-end condo apartments, but mixed-income apartments.

While nobody likes the idea of disrupting traffic and business, during the upcoming construction, this new "Draper" building will, in the end, take a busy corner in Loveland and make it something to be proud of again.