Mineral Place is quickly becoming a much more visible development along Mineral Avenue. Costco is now physically rising on the site, with the warehouse structure clearly visible, while the development's residential community is also nearing completion. Now another major piece of the project is moving forward.
Scheels' board of directors approved Littleton's Mineral Place development in July as the site for the company's next store, beating out roughly seven other U.S. locations under consideration. Littleton City Council will vote September 15 on an economic partnership incentive agreement that would clear the way for a roughly 300,000-square-foot, two-level Scheels on a 14.36-acre parcel adjacent to Costco.
Construction on Scheels is targeted to begin during the first quarter of 2027, with a public opening planned for the first quarter of 2029.
The proposed deal carries no upfront cost to the city. Sales tax would be collected from Scheels as usual, with Littleton then issuing a recurring reimbursement, or share-back, of 54.67% to Scheels for 30 years. Another 5.33% would go to developer RIG Mineral LLC, capped at $25 million, to recover costs associated with delivering the site to Scheels at no charge and constructing parking, landscaping, and sidewalks.
Littleton would retain 40% of collected sales tax until RIG's cap is reached, increasing to 45.33% afterward and eventually 100% once the 30-year Scheels agreement expires. Trevor Klein, Scheels' chief operating officer, submitted the application on the company's behalf.
Scheels' arrival also requires two changes to the original Mineral Place agreement between Littleton and RIG Mineral from October 2024. That agreement included a $29.5 million sales tax share-back tied to Costco and an unnamed second anchor, then expected to be a national home improvement retailer.
With Scheels replacing that tenant, the city hired EPS to update its fiscal analysis. The resulting proposal reduces RIG's cap to $25 million, reflecting the home improvement retailer's estimated 15% share of projected development sales.
Costco's certificate-of-occupancy deadline is also being extended from October 2026 to October 2027 after construction delays shifted the warehouse's anticipated opening to March 2027. Despite the delay, progress is now easy to see from Mineral Avenue as the Costco structure continues to rise.
All three items, the Scheels agreement and two RIG amendments, are scheduled for the September 15 City Council agenda. City staff estimate Scheels could generate approximately $135 million in sales during its first full year, increasing beyond $200 million by year 10. The home improvement retailer previously envisioned for the site was projected at roughly $40 million annually.
Net new sales tax revenue to Littleton is projected at $4.3 million in 2029 and $10.8 million by 2039, along with an estimated $3.9 million in one-time use tax and $2.75 million in development fees.
Scheels' construction costs are expected to total between $100 million and $200 million. Once open, the store is projected to employ more than
It would become Scheels' third Colorado location, joining stores in Colorado Springs and Johnstown, and another major anchor at Mineral Place alongside Costco.
The broader transformation of the former Lumen Technologies campus is also becoming increasingly apparent. The property was cleared following demolition of a 680,000-square-foot building and the 130-foot Qwest Tower. Today, Costco is taking shape, the residential portion of the development is approaching completion, and the proposed Scheels would add another major destination to the growing mixed-use site.
Not every planned tenant has moved at the same pace. Portillo's announced a Mineral Place location in 2025 but has since gone quiet, with the city confirming no recent activity on the proposal. Infrastructure work is moving forward as well. The $21.4 million reconstruction of the adjacent Santa Fe Drive and Mineral Avenue intersection is approximately one-quarter complete and is intended to accommodate additional traffic generated by the development.
If council approves all three resolutions, Littleton would become the latest Colorado municipality to use a long-term sales tax share-back to secure a Scheels store, following similar arrangements in Johnstown and Colorado Springs as the retailer continues expanding its 35-store, 16-state footprint.