GFI Development Co., which purchased the site in 2016, has proposed renovating three nearly century-old structures and building an 11-story building on an existing parking lot.
Denver-based Palisade Partners, which paid $3 million for 0.57 acres that sold for $600,000 a half-decade ago, is planning to build multifamily housing.
A 190-room Kimpton Hotel is planned for a 0.41-acre site at Chenango Avenue and Olive Street that sold for $1.3 million.
The founders of Re/Max gifted the property to the university system in 2015, but CU said the “facility is not financially viable.”
A company official said it’s unclear whether the company will be able to secure the entire development site it envisioned.
“There are potentially better sites, with fewer legal and practical obstacles,” Hancock said late Tuesday.
“A lot of people aren’t aware that in addition to the customer paying a fee, the restaurant also pays a commission,” City Councilwoman Kendra Black said.
EMW Carpets & Furniture, which has been a fixture along South Broadway since 1923, will make way for a proposed five-story, 380-unit apartment complex.
The coronavirus outbreak, they argue, constitutes “unusual conditions” — the phrasing in state law that allows for new assessments to be taken in an off year.
There is already illegal along Welton Street and Denver Mayor Michael Hancock said a controlled environment is needed.
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