The company plans to build an eight-story, 200-unit apartment building at the site.
This is the one of two projects that Mortenson is developing locally. The other is along Walnut Street in RiNo, where the company plans to build itself an office building on land it bought for $4.9 million last December.
The lot near Mile High was sold by the Sun Valley EcoDistrict Trust, a nonprofit master developer that aims to spur development that will benefit the neighborhood located between I-25 and Federal Boulevard south of the stadium. The trust purchased the property from the Denver Housing Authority in 2020 for $2.15 million, records show.
The property is adjacent to the South Platte River. Just to the east is Meow Wolf, Raices Brewing Co. and the Steam on the Platte office building, which sold last year. Sweet noted it’s also located within a federally designated opportunity zone, which can make projects eligible for preferential tax treatment.
Just down Colfax to the west, behind sports bar The Original Brooklyn’s, Atlanta-based developer Wood Partners paid $6.3 million in December for a 1.29-acre site where the company plans to build an apartment complex.
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