For the second time in the last two and a half years, Lakewood officials are having to deal with setbacks regarding a proposed mixed-use project on the site of the former Lakewood Hospital.
Roundstone Insurance -- a major office tenant initially attached to national real estate developer CASTO Communities and North Pointe Realty’s proposed $100 million project -- announced this week that it was dropping out.“Roundstone’s decision is certainly disappointing, but the good news is we still have a great partner in CASTO and North Pointe Reality to complete the job that we set out to do when we started this project,” Mayor Meghan George said.
There’s also a new parking garage serving the development, as well as providing additional downtown Lakewood public parking. This marks the second major hiccup regarding the development of the former hospital, which was demolished in 2019. Lakewood Director of Planning Shawn Leininger said those approvals are still in place, with the project currently on pause while CASTO Communities and North Pointe Realty financially reassess the plan. That could result in a tweaking of the $100 million price tag.
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