The private college chain plans to cease operations on 25 acres in South Park Hill this summer.
Residential Real Estate
The undeveloped fenced-in lots used to park buses at the edge of Curtis Park are planned to become three-story apartment buildings with 189 units.
Nancy Leprino sold her 11,457-square-foot home at 2 S. Lilhaven Lane in March, and her sister Mary recently listed two condos in Denver.
The change would likely primarily affect non-residential developers because a bill working its way through the Senate would let cities require income-restricted units.
They listed the 125-year-old, nearly 9,000-square-foot mansion along Millionaire’s Row for $6.5 million after paying $900,000 for it in 2017.
“We take issue with the per-parcel as opposed to per-landlord licensing,” said a representative of the Colorado Apartment Association.
A proposal spearheaded by City Council President Stacie Gilmore would require owners to pay fees and pass inspections every four years.
A seven-story, 359-unit complex is planned for the 5.18-acre lot. Upsher-Smith Laboratories is laying off its 174 local employees.
A task force that includes developers is discussing what percentage make sense and what types of offsets and incentives would be needed to make it work.
The next four most expensive houses sold were in Denver, all between $4.9 million and $6 million.