A Denver developer dropped $2.3 million on land for a proposed condo project in Jefferson Park, with the final two parcels being acquired last week.
Dublin Development has submitted preliminary plans to the city for a five-story, 57-unit condo building at 2719, 2727 and 2729 W. 28th Ave. The development is slated to be called Jeff Park Flats.
The properties are currently two single-family homes and a duplex, flanked on most sides by four- and five-story structures.
On Tuesday, Dublin, acting as Jeff Park Group LLC, spent $1.05 million to acquire 2719 W. 28th Ave. from an LLC named after the address.
The LLC had purchased the property, a 0.15-acre site with a 2,000-square-foot home, in September 2014 for $586,000, according to property records.
On Wednesday, Dublin purchased the adjacent parcel at 2727 W. 28th Ave. for $750,000 from Ricky and Megan Monroe. The Monroes purchased the 1500-square-foot home on 0.1 acres for $314,000 in 2012.
Dublin purchased the other parcel needed for the development in September. The 0.1-acre lot at 2729 W. 28th Ave. cost $500,000.
The previous owner, Teresa Young, had purchased the site and 1,000-square-foot home in 1995 for $47,000, according to property records.
Dublin principal Jae Edwards said the company has “been a fan of Jefferson Park for the last three years,” given its proximity to downtown, and believes there’s a “pent-up demand for more affordable residential units around Denver.”
The project will be split about 60-40 between one- and two-bedroom units, Edwards said. They likely will hit the market for between $300,000 and $500,000.
Denver’s RealArchitecture drew up plans for Jeff Park Flats.
The company also is building a 50-unit condo facility near the University of Denver.