Western portion of Broadway Station in Denver bought for residential development – The Denver Post

A portion of the 41-acre Broadway Station development site in central Denver has sold.

Denver County records show a $50 million transaction last week between seller BSP West LLC and buyer Santa Fe Denver G LLC and Santa Fe Denver I LLC.

BSP West LLC has owned the western portion of the Broadway Station development site, which is bounded by Interstate 25 and Mississippi Avenue to the north and south, and train tracks and Santa Fe Drive to the east and west.

The two purchasing entities list a Boston office address that corresponds to that of real estate firm GID, which according to its website develops and/or owns multifamily, mixed-use and industrial properties.

The company did not respond to multiple requests for comment. Jim Capecelatro, a Cushman & Wakefield broker who has been marketing the site for residential development, declined to comment.

The two parcels that were sold are known as Parcel G and Parcel I, according to the deed of sale. Legal descriptions of the parcels correspond to what county records show as 957 and 1007 S. Cherokee St., which combined are about 4.8 acres.

Broadway Station’s website shows the parcels — which are zoned for up to 16 stories — are intended for residential development. And a Davis Partnership Architect staffer submitted a concept plan to the city for the site last month, proposing two residential buildings, records show.

The eastern half of the Broadway Station development site is along Broadway south of Interstate 25. Austin-based Endeavor Real Estate Group paid $42 million across two transactions in 2019 for land on that side of the site, saying at the time that it was partnering with Denver-based Legend Partners on development efforts.

The Broadway Station site was previously home to a Gates rubber factory.

Source: Read Full Article