Land behind Coors Field fetches $7M

Thomas Gounley November 8, 2017 3

land near coors field

Property Markets Group purchased 1.1 acres near Coors Field for nearly $7 million. (Thomas Gounley)

A New York City-based developer purchased property near Coors Field last week with plans to build a 12-story residential tower.

Property Markets Group paid $6.87 million for 1.1 acres between Park Avenue and 20th Street, according to property records.

The seller was Denver-based Westfield Co. Partner Randy Schwartz said the company purchased the land more than two years ago with the intent to either develop or sell it.

The vacant site is wedged between Inca and Huron streets and railroad tracks to the north.

“That’s a scarce commodity in the lower downtown area,” Schwartz said, referring to cleared land.

Plans on file with the city, which have not yet been approved, show Property Markets wants to build a 384,000-square-foot tower at the site. About 85 percent of the space would be devoted to 319 residential units with one to four bedrooms.

The plans also call for 6,300 square feet of restaurant space and 1,700 square feet for an art studio. The remaining space would be parking.

Denver-based architect Studio PBA drew up plans for the project, called IncaHuron.

The blocks immediately surrounding the site primarily consist of four- and five-story structures.

A Property Markets representative did not respond to a request for comment. The company’s website lists offices in New York, Chicago and Miami. A portfolio page does not show any projects in Colorado.

Adjacent to the parcels sold to Property Markets, Westfield still owns about half an acre. Schwartz said it wants to build a five-story parking garage that ultimately could be topped with apartments or condos.

Plans for that structure also still need to be approved by the city.

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3 Comments »

  1. Ronda November 8, 2017 at 7:02 am - Reply

    Of course more apartments (Goody)
    Have the New York investor use his money to tear up land in his State, or his front yard!!. NO MORE PEOPLE!

    • Jarek November 8, 2017 at 10:12 am - Reply

      Typical NIMBY. Get with the growth or leave

  2. Mark Studer November 17, 2017 at 1:56 pm - Reply

    I am against this use for the site. I feel they did not require enough parking for the very large apartment building to the south of this site, and to add even more people to this already crowded neighborhood would be unwise. It’s next to impossible to find street parking on Huron as it is, and they have not even filled all the apartments in the Huron Apartments. No street parking means no customers for the stores and restaurants already in the area. I live in this neighborhood and have off street parking, not the case for many in our area. We are between a rock and a hard place with growth only able to go up. Please do not over burden this nice urban neighborhood.

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