The comprehensive redevelopment plan for the intersection of 16th Street and Broadway in Denver has surpassed $430 million in projected costs, following the inclusion of a luxury hotel and office space alongside the previously announced apartment tower.
Expanded Project Scope
Developers have broadened the scope of the project, which was initially focused on constructing a high-rise apartment building. The updated plan now features a 38-story residential tower, a 14-story office building, and a 12-story hotel. This expansion has elevated the estimated total investment for the site to more than $430 million.
Details of the Master Plan
The master plan covers the entire block at 16th Street and Broadway, a prominent location in downtown Denver. The proposed development will include:
- A 38-story apartment tower with 461 residential units
- A 14-story office building offering 200,000 square feet of workspace
- A 12-story luxury hotel with 180 rooms
- Ground-floor retail space spanning 30,000 square feet
Project Timeline and Developers
The development is being led by Property Markets Group in partnership with Greyhound Lines, which previously operated a bus station on the site. Demolition of the former Greyhound terminal began earlier this year, with construction on the new buildings expected to start in 2025. The project is anticipated to be completed by 2028.
Economic Impact and Community Features
According to the developers, the project is expected to create approximately 2,000 construction jobs and 1,000 permanent positions once operational. The plan also includes public plazas and green spaces intended to enhance the pedestrian experience in the area. The developers have stated that the project aims to contribute to the revitalization of downtown Denver by providing new housing, office, and hospitality options.
Additional Information
For more details on the 16th and Broadway master plan, visit the original report at this link.
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