One of them agreed to a reduced price in exchange for ownership of some parking spaces in the proposed apartment building.
Residential Real Estate
A key component of the Arapahoe Square development will be a 75-bed “recuperative care” facility that fills a gap in the healthcare continuum.
The CEO of TractManager paid $3.25 million in 2018 for the 8,000-square-foot home, which was built in 2016.
“We’re bullish on that asset type,” said the president of the firm, which is also considering a multifamily project on land it owns at the edge of RiNo.
Developer HM Capital is paying $650,000 of the $1.5 million cost of Fairfax Park, which is expected to be built by the fall.
The owners of the former restaurant, which opened in 1983 and closed in 2020, paid $1.3 million for the 0.57-acre lot at 650 N. Sherman St. in 2003.
Fredric Reynolds and his wife Lundy purchased the property at 480 Cook St. for $4.3 million in 2016.
“I didn’t want to watch someone tear it apart,” said Hasan Al-Mabuk, a member of the redevelopment team who will move into one of six new townhomes.
The 110-unit project by Palisade Partners would replace a low-slung parking garage on a 0.36-acre lot.
The Chicago-based apartment developer, whose first Denver property has 455 units and 800 more units on the way, “does a few things completely different.”