A Glendale-based development firm has purchased a portion of Greyhound’s real estate at the edge of Curtis Park.
Corum Real Estate Group paid $9.5 million on Monday for the 1.15-acre 2420 Arapahoe St. parcel and the 0.54-acre parcel at the corner of 24th and Curtis streets, according to public records. The deal works out to about $128 a square foot.
The two lots, which are separated by an alley, are both undeveloped and have been used to park buses. They are zoned for up to three stories. BusinessDen reported last year that Corum was working to buy them.
Corum President Eric Komppa said Tuesday that his firm plans to build two three-story apartment buildings on the site. The structures will have 185 units between them.
“This is the oldest, most historic neighborhood in the city,” Komppa said. “I think our design is a reflection of embracing that transition.”
Komppa said he expects to break ground Sept. 1, which would correspond to a spring 2024 completion. JHL is the general contractor. Craine Architecture, whose Welton Street office is four blocks away, designed the buildings.
“They’re in the neighborhood,” Komppa said. “They understand the context of the neighborhood.”
Dallas-based Greyhound still owns 2450 Curtis St., an additional 0.94-acre parcel across the street that has a building used for maintenance on it. Komppa said Corum is under contract to buy that property as well.
This is the second big shake up for Greyhound’s local real estate holdings. In December 2020, the company sold its full city block bus station at 1055 19th St. downtown for $38 million, having shifted its passenger operations to Union Station. The station has since been demolished, and buyers Golub & Co. and Rockefeller Group want to build two 400-foot towers.
Locally, Corum is also building apartments at the corner of 17th Avenue and Clarkson Street in Uptown and working to turn a former Macy’s store in Boulder into an office building with ground-floor retail space.