Denver is poised to buy a former credit union branch in the Golden Triangle for a future city park.
The city council will vote later this month on whether to spend $3 million on the 0.4-acre lot at 1028 Acoma St., which was once home to a drive-thru credit union branch.
The neighborhood south of downtown is bordered on the north by Civic Center Park, and Sunken Gardens is to the west across the busy Speer Boulevard. But city officials say the area lacks a true “neighborhood park” and they’ve been looking for a place to put one for at least 15 years.
The lot is owned by local developer Fred Glick, who bought it with investors in 2024 for $1.8 million. They expected to redevelop it and hold it long term.
“We’re big believers in the neighborhood,” said Glick, who is a partner in the Evans Schools and 1100 Acoma buildings a block away. “We saw lots of different opportunities to explore with this property.”
They thought it could be a good retail site, or a logical spot to build a single-stair residential building, which Denver recently legalized.
The deal with the city came about “somewhat organically,” Glick said, amid conversations over the 5280 Trail, a planned pedestrian loop in central Denver.
Glick agrees with the city that the Golden Triangle needs a park.
“This is an opportunity for the neighborhood and we didn’t want to see it fall apart,” he said.
Denver’s assessor values the property at $3.33 million, so Glick and his investors started talks there. The city got an appraisal that found the property to be worth $2.5 million.
“We’re still kind of mystified that two different parts of the city think it’s worth different amounts,” Glick said.
Lisa Lumley, Denver’s director of real estate, told city council members the city’s real estate deals “almost always are at or below appraised value.” But she decided it was reasonable on this one to pay more.
“There are very few properties left in this area that have not been fully developed,” Lumley said, adding that demolition costs would likely be higher for a different property.
The timeline for the new park, if the purchase is approved, has yet to be determined. The city also hasn’t planned what the park would look like.
But Glick has one recommendation.
“The need for a dog park in the neighborhood is huge,” he said.
