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Denver-based Formativ sold the property to Lagniappe. Logos for both were included in plans submitted for a five-story, 110-unit apartment building.
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Denver-based Formativ sold the property to Lagniappe. Logos for both were included in plans submitted for a five-story, 110-unit apartment building.
It would be the third neighborhood to be mass rezoned for ADUs, following Chaffee Park in 2020 and Sloan’s Lake in August.
When Central Street Capital sold Prospect on Central in August, the company kept its offices in the building. It’s regretting that now.
A 12-story project had previously been planned for the 0.43-acre site at 3405 Walnut St. next to Zocalo Development’s Edit at River North.
Bill Barrett and his late wife Louise purchased the land at 428 Saint Paul St. for $1.2 million in 2007 and completed their home in 2009.
Office and residential buildings up to 400 feet high have been proposed but need approval, so construction won’t start anytime soon.
If rezoning is approved, 40 percent of the units on the 901 S. Navajo lot would be restricted to those making up to 30 percent of the area median income.
Up to 2,000 residential units could be built and existing retail space cut to as little as 125,000 square feet from the current 270,000 square feet.
The Colorado Housing and Finance Authority released a list this week of planned projects with a combined 1,373 income-restricted units.
The company announced this month that it will write off millions in losses after paying too much for homes and it has stopped buying them.
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