Avenue South in East Loveland: Hensel Phelps HQ, 800 Residences, and What It Means for Real Estate

by Jason Levi

Loveland Market News — T1-3Avenue South Development — Loveland 2026

Avenue South in East Loveland: Hensel Phelps HQ, 800 Residences, and What It Means for Real Estate

Jason Levi & Carrie Levi

CLHMS | GUILD | REAL Luxury Division · The Levi Group Colorado | Real Broker, LLC

Published 2026-06-22 • Updated 2026-06-22

Direct Answer

What is Avenue South and what does it mean for Loveland real estate?

Avenue South (formerly Centerra South) is a 140-acre mixed-use development in east Loveland currently under horizontal construction. Spearheaded by Realberry (formerly McWhinney Real Estate Services), Avenue South will expand the Centerra community with approximately 170,000 square feet of retail and restaurants, 150,000 square feet of office space anchored by Hensel Phelps’ 111,528-square-foot global headquarters, and more than 800 residences including apartments, townhomes, and for-sale options. Vertical construction on the retail core begins in May 2026. Residential construction anticipated to start in 2027.

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Avenue South is the most significant mixed-use investment in Loveland in a generation — and it directly supports the value case for buying in east Loveland before its benefits are priced into the market.

What Avenue South Will Deliver

Avenue South is positioned southwest of the Interstate 25 and US Highway 34 intersection — the commercial heart of east Loveland and the Centerra corridor. The project is not a speculative development; it has a committed anchor tenant (Hensel Phelps’ 111,528 sq ft global headquarters), a committed developer with decades of NoCo track record (Realberry/McWhinney), and horizontal construction already underway.

Retail Core — 170,000 sq ftVertical construction beginning May 2026. A much-needed grocery store is cited as a key component by Realberry. Restaurants, shops, and everyday conveniences that create a “complete, connected district” within Centerra’s broader commercial ecosystem.

Office — 150,000 sq ft including Hensel Phelps HQThe City of Loveland approved up to $1M in fee waivers and up to $500K in incentives tied to job creation to attract Hensel Phelps’ global headquarters to Loveland. A four-story, 111,528 sq ft headquarters building is the office anchor. This is a meaningful employment commitment that creates sustained demand for Loveland housing.

Housing — 800+ residencesA mix of apartments, townhomes, and for-sale options. Residential construction anticipated to begin in 2027. This adds supply to the east Loveland corridor but also demonstrates developer confidence in the demand for urban-integrated housing in the Avenue South district.

What This Means for Loveland Real Estate Values

Major employment anchors reliably support residential real estate values within commute proximity. Hensel Phelps’ headquarters alone represents a significant job creation commitment — and the City of Loveland’s incentive agreement signals ongoing municipal support for east Loveland commercial growth. Buyers who purchase in the Centerra, east Loveland, and Boyd Lake corridor now are buying before Avenue South’s benefits are reflected in comparable sale prices.

Centerra Community Guide →Loveland’s Value Case →

Frequently Asked Questions

What is Avenue South in Loveland Colorado?

Avenue South (formerly Centerra South) is a 140-acre mixed-use development in east Loveland at the southwest corner of I-25 and US Highway 34. Developed by Realberry (formerly McWhinney Real Estate Services), it will include 170,000 sq ft of retail and restaurants, 150,000 sq ft of office space anchored by Hensel Phelps’ global headquarters, and 800+ residences. Horizontal construction is underway; retail vertical construction begins May 2026; residential construction anticipated 2027.

Why is Hensel Phelps moving its headquarters to Loveland?

The City of Loveland approved up to $1M in fee waivers and $500K in job-creation incentives to attract Hensel Phelps’ global headquarters to Avenue South. Hensel Phelps is one of the nation’s leading general contracting firms. The 111,528 sq ft, four-story headquarters building is the anchor of Avenue South’s 150,000 sq ft office component. This represents a significant sustained employment commitment to east Loveland.

When will Avenue South be built in Loveland?

Avenue South is on an active construction timeline: horizontal construction was underway as of early 2026; vertical construction on the retail core is expected to begin May 2026; residential construction is anticipated to start in 2027. The first retail and office spaces are expected to be operational before the residential component delivers.

Will Avenue South increase home values in Loveland?

Major mixed-use developments with committed employment anchors historically support residential values in surrounding neighborhoods. Avenue South’s combination of retail density, Hensel Phelps employment, and 800+ new residences will create ongoing demand in the east Loveland and Centerra corridor. Buyers who purchase near Avenue South before its completion are typically best positioned to capture the appreciation that follows a major commercial anchor.

What was Centerra South before it became Avenue South?

Avenue South was previously known as Centerra South — the planned southern expansion of the Centerra master-planned community that has anchored east Loveland’s commercial and residential development for two decades. Realberry (formerly McWhinney) rebranded both the developer and the project in early 2026, but the development vision and commitment to the site remain continuous from the original Centerra South planning.

How does Avenue South compare to RainDance in Windsor for real estate impact?

Avenue South is primarily a commercial and employment anchor with a residential component — it creates jobs and retail that support surrounding home values. RainDance is primarily a residential lifestyle community that drives direct home purchasing. They serve different functions: Avenue South improves the employment and commercial environment for east Loveland buyers; RainDance is the destination that Windsor buyers are specifically choosing. Both represent major investments in their respective communities.

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Jason and Carrie Levi provide neighborhood-specific Loveland data based on current MLS activity. No national averages.

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Bottom Line

Avenue South in east Loveland — 140 acres, Hensel Phelps global HQ, 170K sqft retail, and 800+ residences — is the most significant mixed-use development in Loveland in a generation. Horizontal construction is underway; retail vertical construction begins May 2026; residential construction comes in 2027. Buyers in the Centerra and east Loveland corridor are purchasing before Avenue South’s benefits are reflected in comparable sale prices.

Avenue South is Loveland’s clearest signal that the community’s long-term trajectory is investment-grade — and the buyers who recognize that before it opens will have the best entry points.

Jason Levi & Carrie Levi — The Levi Group Colorado | Real Broker, LLCCLHMS | GUILD | REAL Luxury Division · 300 Boardwalk Dr 6B, Fort Collins, CO 80525 · Jason: (970) 426-8916 · Carrie: (970) 567-5938 · jason@thelevigroup.net · carrie@thelevigroup.net

Jason & Carrie LeviCLHMS | GUILD | REAL Luxury Division · The Levi Group Colorado

Jason and Carrie Levi serve Loveland buyers and sellers with neighborhood-specific data across Centerra, Downtown Loveland, Mariana Butte, Boyd Lake, and Berthoud.