Here’s an exciting press announcement released this morning by the Downtown Denver Partnership:
Approximately 75,000 contiguous square feet has changed ownership in an area that serves as a gateway between the Colorado Convention Center and the rest of Downtown Denver. The City & County of Denver and Downtown Denver Partnership are now working with the new land owners, Shames-Makovsky Realty Company, to maximize the potential of the land.
Known as Block 162, this land has long been targeted for redevelopment including exterior building improvements and quality of ground level retail uses. Fragmented property ownership of the block had intimidated developers for many years.
“This is an example of the stars aligning,” said Evan Makovsky, General Partner of Shames-Makovsky Realty Company which has acquired the land. “Business and City leaders have advocated for change in this area, and I commend the property owners for coming forward and working with us.”
“We’re committed to an action agenda relating to vacant and undeveloped properties, poorly-maintained storefronts, deteriorating streetscapes, and 16th Street Mall safety issues,” said Don Hunt, Chair of the Downtown Denver Partnership’s “Revitalizing the Core Task Force”—a group that focuses on improving the quality of the experience in the core of Downtown, and aggressively pushing for change. “We feel very fortunate that Shames-Makovsky Realty Company is willing to incorporate our input on how to leverage the potential of this block.”
“In the last 5 years, Downtown Denver has seen roughly $880 million in public investment, and $790 million in private investment is planned to take place before 2010,” said Kelly Brough, with the City & County of Denver. “The redevelopment of this block will significantly contribute to the experience our visitors and tourists have in our city.”“For years, we’ve remained resolute that this particular block could contribute more to our urban landscape,” said Tami Door, President & CEO of the Downtown Denver Partnership. “Those dreams are finally coming to fruition.”
This is great news, something we been eagerly anticipating for a long time! This land assemblage (everything on the block except the two historic buildings facing the 16th Street Mall) will allow a new development to eventually occur on this site and, along with the Hyatt, create a vital pedestrian link between the Convention Center and the 16th Street Mall. Additionally, this could potentially be the catalyst that triggers a “domino effect” along 15th Street that would transform that street into an attractive, pedestrian-friendly, vibrant Downtown street.
A major hurdle in our ongoing revitalization of the Downtown core has been cleared!
