Another set of old manufacturing buildings is being torn down in RiNo. But unlike the boom times of the 2010s, what will happen to the site next is anybody’s guess.
“At the current point, we’ve got no real plans in place,” said Dean Koelbel, a third generation member of the family real estate firm Koelbel & Co.
The company hired Denver’s American Demolition to tear down four industrial buildings and two trailers at 3400 Brighton Blvd., next door to the Source Hotel. Work began last week.
In the spring, Koelbel submitted plans to Denver for an apartment complex on the 2.2-acre property. But the firm is also considering selling the land instead.
“Those buildings were just attracting transients and they caught on fire a couple of times, so we felt we needed to get them torn down for liability purposes,” Koelbel said, later adding that one structure was burned three separate times.
Related Articles
Shuttered American Ninja Warrior gym will pay $240K to Denver landlord How Starbucks tried to quash union activity in Colorado Bank of America playing the long game in Colorado Waldorf Astoria condo project breaks ground in Cherry Creek Boulder-based religious tech firm Gloo Holdings goes publicThe site is home to five buildings in total. The 3435 Wynkoop St. building, tucked away in the rear of the property, will remain untouched, records show.
Koelbel’s apartment proposal in early May called for two towers with 429 combined units and 10,000 square feet of retail space. On the possible sale side, NAI Shames Makovsky brokers Dorit Fischer and Hayden Hirschfeld are marketing it.
Koelbel said his firm has received some buyer interest. But the reality remains that ground-up development in the once red-hot neighborhood has gotten expensive and complicated.
“The dynamics in Denver are tough,” Koelbel said. “Nothing is pencilling.”
Read more from our partner, BusinessDen.
Get more business news by signing up for our Economy Now newsletter.
Hence then, the article about developer demolishing rino warehouses future of property unclear was published today ( ) and is available on The Denver Post ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Developer demolishing RiNo warehouses, future of property unclear )
Also on site :
- Aurora man arrested on suspicion of starting massive Leetsdale Drive fire
- Indiana Toll Road shut down after pileup crash involving around 29 vehicles
- Taylor Swift Supports Brad Paisley's Nashville Charity With a Generous Gift: 'Never Forgets Her Roots'