The Denver skyline has welcomed a new addition with the completion of a 30-story office tower at 1900 Lawrence St., providing 720,000 square feet of prime office space in the Central Business District. Developed by Riverside, in partnership with Convexity Properties and Canyon Partners Real Estate, the tower was designed by Goettsch Partners and constructed by Hensel Phelps. Riverside purchased the 1.25-acre site in December 2021 for $27.2 million, signaling their commitment to enhancing Denver’s urban landscape.
Meanwhile, Broomfield City Council has approved plans for the demolition of the former 1stBank Center, which never fully realized its potential since opening in 2006. The council has authorized a $4 million loan to facilitate the $3.2 million demolition by Colorado Cleanup Corp., utilizing a green demolition plan aimed at recycling 90% of the materials.
On the financing front, the U.S. Department of the Treasury has allocated $65 million in new markets tax credits to the Colorado Growth and Revitalization Fund, aiming to attract private capital for development in underserved communities.
Lastly, the Denver City Council has approved an overhaul of Cherry Creek West, projected to create 825 residences, 600,000 square feet of office space, and significant retail and open spaces.