Arapahoe Square lot with approved plans for 13-story project sells for $9M

600 park lot

The parking lot at 600 Park Avenue West, seen here in January 2018, sold for $9.08 million.(Thomas Gounley)

An Arapahoe Square parking lot with city-approved plans for a 13-story apartment building has sold.

GDCV III Arapahoe Square LLC purchased the 0.72-acre 600 Park Avenue West lot last week for $9.08 million, according to county records.

The purchasing entity lists an office address that corresponds to that of Greystar, a South Carolina-based multifamily developer. The company did not respond to requests for comment.

The property at the corner of Park Avenue and Welton Street was sold by Kansas-based Alsation Land Co., which purchased it last year for $5.16 million. Alsation also did not respond to a request for comment.

The city has approved the site-development plan Alsation submitted for the property for a 13-story, 238-unit apartment building designed by Kephart Architecture.

Greystar owns apartment complexes in the Denver area and has experience developing locally. The company is wrapping up work on Parq on Speer, a 16-story project in the Golden Triangle.

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