A new development firm wants to build a condo project in Arapahoe Square that would top out at 23 stories.
Denver-based Ubuntu Partners, formed by Keller Williams agent Karina Christensen and Northstar Commercial Partners co-founder Patricia Watson, has chosen the name “Evolve Towers” for the structure planned for the corner of Park Avenue and Champa Street.
“We’re in an evolving neighborhood,” Christensen said. “We feel like we have a forward-thinking design.”
The company submitted an early-stage development proposal to the city in July. Last week, it went before the Downtown Design Advisory Board, which has replaced the defunct Arapahoe Square Design Review Board.
The plans for Evolve Towers call for a five-story podium, consisting of ground-floor retail space topped with four levels of parking. The residential units would be in two narrow towers, which would extend an additional 18 stories.
“What we’re after is building a sustainable net-zero condo project with attainable units,” Christensen said.
The goal is for 80 percent of the units to list at no more than $565,000, Christensen said.
Ubuntu, which takes its name from an African philosophy, wants to build on two parcels which combine for 0.65 acres. Christensen said the company is slated to close on the site in late November.
The 0.29-acre 838 Park Avenue West parcel is owned by Oyster Holdings II LLC, which bought it in August 2016 for $1.58 million, according to records.
The 0.36-acre 2250 Champa St. parcel is owned by Champa Flats Owner LLC; a related entity bought it in October 2015 for $1.13 million, per records.
While Ubuntu is a new company, Christensen said she and Watson, as well as others consulting with the company, have been involved in numerous developments, including the office building at 1401 Lawrence St. in Denver and The Grand apartment complex near Union Station.
“We’ve got a pretty good bench of knowledge,” she said.
Other major condo projects on tap for Denver include Canadian developer Amacon’s planned 38-story project at the edge of the Central Business District.