Developer buys Uptown acre for $7M with condo plans

An undeveloped acre at 575 E. 20th Ave. sold for $7 million. (Thomas Gounley)

A developer has purchased an Uptown lot for $7.1 million with plans to replace the green space with a 12-story condo building.

Denver-based NAVA Real Estate Development, acting as NAVA Uptown LLC, purchased 575 E. 20th Ave. last week, according to county records.

The property is 1.06 acres, making the sale worth $153 per square foot. The undeveloped lot is just east of Benedict Fountain Park.

It was sold by Denver Housing Authority, which owns the adjacent 350 Park Avenue West parcel occupied by two- and four-story residential structures.

DHA did not respond to a request for comment. Dorit Fischer and Hayden Hirschfeld of NAI Shames Makovsky represented the seller, according to signage at the site.

NAVA submitted a site development plan to the city in May 2017, proposing a 12-story building with 188 units and 294 parking spaces. The plans were drawn up by Davis Partnership Architects.

The firm was founded by Brian Levitt and Trevor Hines. Neither responded to a request for comment.

NAVA is in the process of constructing Lakehouse, a 12-story condominium building with 196 units in Sloan’s Lake on the former St. Anthony Hospital campus. That project broke ground last May.

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