Developer plans to build apartments in Denver’s RiNo neighborhood instead of hospitality project – The Denver Post



A development company planning its first project at RiNo has shifted gears in the wake of the pandemic.

Katz Development, led by Andrew Katz, originally proposed a seven-story hospitality project on the 0.29 acre lot at 3495 Wynkoop St. in early 2020. It would have been somewhat hostel-like in nature. , with a number of shared dorms next to private rooms.

But the Denver-based company submitted new plans for the site to the city this week. Today, the company wants to build a 12-storey apartment building with 95 units.

Katz attributed the change to the pandemic.

“There is a lot of uncertainty in the hospitality capital markets because of COVID,” he said.

Downstairs, plans call for around 1,000 square feet for something like a cafe, as well as coworking space for residents. An automated parking system would have room for 91 vehicles. There would be bridges on the fourth and sixth floors, as well as the roof.

Katz worked for Denver-based Sullivan Hayes and Westfield Co. before leaving Denver in 2019 to focus full-time on project planning. It’s a family affair – he works there with his father Scott, who has developed retail and multi-family ventures in the Midwest, and his younger brother Adam.

The family paid $ 1.81 million for the land at 3495 Wynkoop St. in June 2017, according to public records. At present, there is an industrial building on the site.

The site is zoned for a maximum of eight floors, but is in the zoning overlay district established around RTD’s 38th and Blake station. This overlay allows developers to build higher than standard zoning if they meet certain requirements for low income housing.

Another planned RiNo project that has changed due to the pandemic is Flora, a planned 12-story building at the corner of 35th Avenue and Chestnut Place that will now be apartments instead of condominiums.

Source link

Leave A Reply

Your email address will not be published.