
There aren’t any affordable units proposed. Rather, Hines plans to pay a $1.4 million cash-in-lieu fee.
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There aren’t any affordable units proposed. Rather, Hines plans to pay a $1.4 million cash-in-lieu fee.
The seller is the founder of dairy research firm IMAC, who acquired the properties for less than $400,000 combined between 1989 and 2005.
Brue Baukol said it intends to submit a revised development plan for the property in early 2021.
The company upped its local profile last month when it purchased Larimer Square and now it has added the building home to CorePower Yoga to its portfolio.
The Gap-owned activewear brand has been in the Cherry Creek Shopping Center since 2012.
A $3.5 million new building at 360 N. Acoma St. and a $3.2 million new building at 1255 N. Osceola St. in Denver were the top building permits.
Two 400-foot towers were proposed for the site in March but the new property owners will only say are planning a “large-scale, mixed-use development.”
A principal with seller Mass Equities said the company is reconsidering its plans for a mixed-use development on an adjacent parcel it still owns.
Denver firm Oz and the developers of One River Run told BusinessDen that they are cooperating on design and construction and aim to finish on time.
Many developments that were expected to start construction didn’t because of the economic uncertainty prompted by the pandemic.
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