The Canadian developer building Denver’s second-largest condominium building has tapped a local brokerage to market the units.
Vancouver-based Amacon has hired West + Main Homes to market the firm’s two-tower condo building going up at Broadway and Glenarm Place.
The project, still unnamed, will have 461 units in two towers rising from a shared podium and topping out at 32 and 38 stories. There will also be 12,000 square feet of retail space and 522 parking spaces.
Once completed, it will be Denver’s second-largest condo building by unit count, trailing only the 493-unit Spire Building at 891 14th St., which was completed in 2009.
Stephanie Babineau, Amacon’s vice president of marketing and sales, said the company vetted other firms but West + Main just “clicked.”
West + Main was founded by Stacie Staub and Madeline Linder in 2017, and now has eight offices around Colorado and does deals in five states. Staub said this isn’t the firm’s first time selling condos, but it hasn’t marketed a condo project in Denver since 2020.
“I really do think there’s an unseen demand for product like this,” Staub said.
Amacon is moving forward with condos at a time when some other developers, generally doing smaller projects outside the downtown core, have turned condo projects into apartment projects instead. The latest to make that choice was Denver-based First Stone Development with its project at 655 Santa Fe Drive.
Amacon expects to complete construction in 2025, but the units, which range from studios to three-bedroom penthouses, will hit the market early next year. Staub said there’s a wide variety of floor plans and every unit will have a balcony. List prices haven’t been determined yet.
“We understand the market has changed a little but that’s why we’re paying close attention on pricing,” Babineau said.
“It’s not like The Coloradan. This is a different time and we’re cognizant and realistic about that, but I do think this is something that’s generating a lot of excitement,” Staub said.
Located in Union Station, the 334-unit Coloradan was completed in 2019. Its units listed from $255,000 to $3.4 million. Units currently on the market there are priced from $375,000 to $1.2 million.
Amacon owns a handful of other buildings locally, including the office building at 800 18th St., but this is the company’s first development project in the United States, according to Babineau. The company has already proposed another condo building of similar size next to the one under construction.
“There was a need for housing and we always wanted to move into the U.S. market, and (Denver) felt like the right city and state to move into,” Babineau said. “Our plan wasn’t to build one tower and move on. We want to stick around Denver.”
Babineau noted Amacon has experience doing other large-scale condominium projects throughout Canada.
“The project we’re developing in Denver is just a smaller version of what we’ve been developing in Canada for years,” she said.