Developer buys Uptown acre for $7M with condo plans

nava uptown

An undeveloped acre at 575 E. 20th Ave. sold for $7 million. (Thomas Gounley)

A developer has purchased an Uptown lot for $7.1 million with plans to replace the green space with a 12-story condo building.

Denver-based NAVA Real Estate Development, acting as NAVA Uptown LLC, purchased 575 E. 20th Ave. last week, according to county records.

The property is 1.06 acres, making the sale worth $153 per square foot. The undeveloped lot is just east of Benedict Fountain Park.

It was sold by Denver Housing Authority, which owns the adjacent 350 Park Avenue West parcel occupied by two- and four-story residential structures.

DHA did not respond to a request for comment. Dorit Fischer and Hayden Hirschfeld of NAI Shames Makovsky represented the seller, according to signage at the site.

NAVA submitted a site development plan to the city in May 2017, proposing a 12-story building with 188 units and 294 parking spaces. The plans were drawn up by Davis Partnership Architects.

The firm was founded by Brian Levitt and Trevor Hines. Neither responded to a request for comment.

NAVA is in the process of constructing Lakehouse, a 12-story condominium building with 196 units in Sloan’s Lake on the former St. Anthony Hospital campus. That project broke ground last May.

nava uptown

An undeveloped acre at 575 E. 20th Ave. sold for $7 million. (Thomas Gounley)

A developer has purchased an Uptown lot for $7.1 million with plans to replace the green space with a 12-story condo building.

Denver-based NAVA Real Estate Development, acting as NAVA Uptown LLC, purchased 575 E. 20th Ave. last week, according to county records.

The property is 1.06 acres, making the sale worth $153 per square foot. The undeveloped lot is just east of Benedict Fountain Park.

It was sold by Denver Housing Authority, which owns the adjacent 350 Park Avenue West parcel occupied by two- and four-story residential structures.

DHA did not respond to a request for comment. Dorit Fischer and Hayden Hirschfeld of NAI Shames Makovsky represented the seller, according to signage at the site.

NAVA submitted a site development plan to the city in May 2017, proposing a 12-story building with 188 units and 294 parking spaces. The plans were drawn up by Davis Partnership Architects.

The firm was founded by Brian Levitt and Trevor Hines. Neither responded to a request for comment.

NAVA is in the process of constructing Lakehouse, a 12-story condominium building with 196 units in Sloan’s Lake on the former St. Anthony Hospital campus. That project broke ground last May.

This story is for our paid subscribers only. Please become one of the thousands of BusinessDen members today!

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

 — 

 — 

 — 

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING [email protected].

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.

FOR ASSISTANCE WITH YOUR MEMBERSHIP PLEASE EMAIL [email protected]




Return to Homepage

POSTED IN Residential Real Estate

Editor's Picks

Leave a Reply

Your email address will not be published. Required fields are marked *