The developer that wanted to build two 400-foot towers on the site of downtown Denver’s Greyhound bus station is no longer under contract to purchase the property.
Andy Gibb, senior manager of marketing and proposals for Toronto-based developer First Gulf, told BusinessDen in an email Wednesday that the company is “no longer involved” with the property, an entire city block with the address of 1055 19th St.
A different party is now under contract to purchase the property, according to a representative of JLL, which began marketing on behalf of Greyhound in April 2019. First Gulf backed out in the second quarter.
Gibb declined to comment further. In March, First Gulf submitted a development proposal to the city calling for a 29-story office building and 38-story residential building, which would share a single base, to be constructed at the site.
In Denver, First Gulf previously developed the office building at 1401 Lawrence St., which is topped with signage for law firm Polsinelli.
As of this month, the station — known as the Denver Bus Center — is no longer used. Dallas-based Greyhound shifted its operations in the Mile High City to Union Station starting Oct. 1.
Greyhound’s license agreement with the Regional Transportation District allows for non-exclusive use of gates B3, B4 and B19 within Union Station’s bus concourse.
Greyhound normally operates 13 daily trips to and from Denver, although that number has been reduced to eight during the pandemic, according to RTD.
The Colorado Department of Transportation’s regional Bustang service also stopped using the Denver Bus Center at the end of September, according to its website. Bustang already operated from Union Station as well.