BusinessDen

1 day ago | businessden.com | Thomas Gounley

An office tower south of downtown Denver has changed hands for the first time in two decades, for less than it fetched back then. The 1290 Broadway building sold Monday for $22.4 million, according to public records. The structure is 17 stories and 252,000 square feet, meaning the deal works out to $89 a square foot. The buyer, 1290 Broadway Realty LLC, lists an office address in Suffern, New York, and was registered as an entity by David Lapa, an attorney there.

1 day ago | businessden.com | Thomas Gounley

The Royal Palace Motel is finally coming down, a year after being purchased by a developer. On Monday, crews began demolishing the long-abandoned building just north of the intersection of Colorado Boulevard and Colfax Avenue. The five-story structure on just over an acre at 1565 N. Colorado Blvd. was bought for $7.3 million in January 2024 by Chicago-based Laramar Group. The firm develops apartments and has submitted plans for a six-story building at the site with about 150 units.

2 days ago | businessden.com | Thomas Gounley

The Denver City Council has signed off on Denver’s plan to swap land for the Park Hill Golf Course. The council voted unanimously Monday afternoon to exchange 145 acres south of Denver International Airport for the 155-acre former golf course along Colorado Boulevard. The deal, which Mayor Mike Johnston announced in January, is with Glendale-based Westside Investment Partners, which bought the former golf course in mid-2019 for $24 million. Golf operations ceased at the end of 2018.

3 days ago | businessden.com | Thomas Gounley

Denver Mayor Mike Johnston is looking to compile a list of organizations willing to build income-restricted housing on city land, although his administration isn’t ready to discuss specific sites that could be developed. Denver’s Department of Housing Stability, known as HOST, on Friday released a request for proposals to identify and prequalify a group of developers that, down the road, will participate in “mini-bid” opportunities to build on individual sites.

3 days ago | businessden.com | Thomas Gounley

Developer Adam Fenton has secured another site, this time next to Thomas Jefferson High School. Last month, the head of Denver-based Narrate Cos. bought just under 4 acres at 3600 S. Ivanhoe St. in conjunction with Jeff Palmquist of Palmquist Investments. The pair paid $4 million, according to public records, or about $23 a square foot. The land sits just east of the Hebrew Educational Alliance synagogue and was sold by the Conservative Jewish congregation.