The property has three buildings on it, one of which was formerly the University of Denver’s English Language Center. (Thomas Gounley/BusinessDen)
The University of Denver is looking to sell a development site a block from its campus core for $11 million.
The university has tapped JLL to market the 1.73-acre property at 1958 S. Josephine St. The brokerage is targeting multifamily buyers, noting that the G-MU-5 zoning allows 5 stories, or up to 7 if a project meets certain criteria regarding income-restricted housing.
The list price works out to $146 a square foot.
DU spokesman Jon Stone said in an email that the university “always evaluates real estate opportunities in close proximity to campus” and determined that “making way for a multifamily development would be the best use of this land.”
The property has three buildings on it.
One facing Josephine Street used to be the school’s English Language Center, which helped international students learn English. The university closed the center in June 2021, citing declining enrollment, according to the school’s website.
A second building, facing Columbine Street, has housed the fraternity Zeta Beta Tau. The third building, facing Asbury Avenue, has been boarded up for several years.
The rear of the Zeta Beta Tau fraternity building. (Thomas Gounley/BusinessDen)
There are already large apartment buildings north, south and west of the property.
“This transaction represents a prime opportunity for developers to create distinctive residential housing in one of Denver’s most established university neighborhoods,” JLL broker Chris Musselman said in a statement.
DU’s other recent real estate moves include buying up units in a 4-story condominium building at 2295 E. Asbury Ave. Last year, the university sold the Buchtel Bungalow, a home at 2100 S. Columbine St. that the university bought in 1927.
The property has three buildings on it, one of which was formerly the University of Denver’s English Language Center. (Thomas Gounley/BusinessDen)
The University of Denver is looking to sell a development site a block from its campus core for $11 million.
The university has tapped JLL to market the 1.73-acre property at 1958 S. Josephine St. The brokerage is targeting multifamily buyers, noting that the G-MU-5 zoning allows 5 stories, or up to 7 if a project meets certain criteria regarding income-restricted housing.
The list price works out to $146 a square foot.
DU spokesman Jon Stone said in an email that the university “always evaluates real estate opportunities in close proximity to campus” and determined that “making way for a multifamily development would be the best use of this land.”
The property has three buildings on it.
One facing Josephine Street used to be the school’s English Language Center, which helped international students learn English. The university closed the center in June 2021, citing declining enrollment, according to the school’s website.
A second building, facing Columbine Street, has housed the fraternity Zeta Beta Tau. The third building, facing Asbury Avenue, has been boarded up for several years.
The rear of the Zeta Beta Tau fraternity building. (Thomas Gounley/BusinessDen)
There are already large apartment buildings north, south and west of the property.
“This transaction represents a prime opportunity for developers to create distinctive residential housing in one of Denver’s most established university neighborhoods,” JLL broker Chris Musselman said in a statement.
DU’s other recent real estate moves include buying up units in a 4-story condominium building at 2295 E. Asbury Ave. Last year, the university sold the Buchtel Bungalow, a home at 2100 S. Columbine St. that the university bought in 1927.
