In today’s Denver Post, Margaret Jackson reports that Bahman Shafa, the local developer who recently purchased the vacant parcel at the corner of 14th and Stout in Downtown Denver (first reported in my blog of January 28), will be moving forward with a new project at the site. According to the article, Mr. Shafa plans a tower of either all residential condominiums or a hotel/condominium mix, and is expected to break ground on the project within two years. Here’s a link to the article: Stout Street Lot Sold for Residential Tower Project
I’m glad to see Mr. Shafa isn’t planning on land-banking the site for the next decade or two. Downtown Denver already has too many undeveloped parcels owned by families who refuse to sell their land when presented with viable development offers, and who are content to allow their ugly surface parking lots to fester in the heart of our city for generations. Hopefully, Mr. Shafa won’t wait too long to develop his other parcel at 14th and California, clearly one of the most visible and valuable undeveloped lots in Downtown Denver.
Overall, this is good news, and I’m looking forward to learning more about this project as it advances over the next couple of years.
