Will Downtown Loveland’s Big ‘Draper’ Project Really Ever Happen?

A big anticipated project in Downtown Loveland that was expected to be completed in May of 2023 looks even further away, it at all.

Draper Project in Downtown Loveland's Developer Announces Project on Hold

2025 marks ten years since the Heartland Cafe closed at the corner of 4th Street and Lincoln Avenue in Downtown Loveland. In 2021 a $32 million project was announced that would take up a large portion of that corner, The Draper Project.

As of May of 2025, Downtown Loveland is in the beginning stages of a big renovation of 4th Street itself, a project that should see completion by spring of 2026. It's kind of a mess for visitors to Downtown and especially to businesses owners. Adding the Draper Project to the mix, did sound "iffy."

Will the Draper Project in Downtown Loveland Get Off the Ground?

In late May of 2025, according to the Reporter-Herald, the project's developer announced that the (now) $45 million dollar project is on hold, citing current financial fluctuations and rising costs, which we can all relate to, I think.

READ MORE: What Are the Renovation Plans for 4th Street in Loveland?

So, the short answer is, "No. There'll be no Draper Project." The longer answer is "if economic factors improve, the developer might come back to the table. Also, new developers could pick up where the others left off."

What Is/Was the Draper Project

The plans were to transform five buildings at the northeast corner of 4th and Lincoln into a five-story structure that would have retail at street level, and about 100 multifamily units above. The plans included a 4.5 story parking garage at 5th and Jefferson, behind The Black Steer.

I'm sure I'm not alone in being sad and frustrated by it all. By the summer of 2026, 4th Street is going to look much, much better, except for the old vacant buildings at 4th and Lincoln.