Business

Apartment developer pays $13M for second half of city block in Denver’s Lincoln Park neighborhood


Holland Partner Group is doubling down on a block in Lincoln Park.

The Washington-based apartment developer last week paid $12.9 million, according to public records, for the northern half of the block formed by Santa Fe and Inca Street, and 10th and 11th avenues. The deal works out to about $250 a square foot.

Holland already owns the southern portion of the block and is wrapping up work on a five-story apartment complex there that it has dubbed “Quin.” The company paid $8.7 million, or about $179 a square foot, for the land in November 2020.

Holland, which did not respond to a request for comment, plans a similar project on the northern half of the block. It submitted initial development plans in June 2021. The latest version of the plans call for a five-story, 123-unit complex.

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There are a number of existing structures at the site, including two along 11th Avenue previously used by Tortillas Mexico, which relocated to Englewood.

Nearly all the parcels that Holland purchased last week were sold by Jose Rangel, who founded the tortilla producer in 1986, according to its website. The city previously determined one of the buildings might be eligible for historic landmark status, but no one campaigned to save the structure.

Holland has developed multiple apartment complexes in and around Denver. In addition to Quin, the company is currently building another at 2950 Arkins Court in RiNo.

Holland’s project is one of several that is poised to bring more density to the Santa Fe Drive corridor. Leon Cisneros, of CRE Development Investments, has developed two eight-story apartment complexes in the 1300 block, and Lenny Taub’s First Stone Development is building a five-story condo building in the 600 block.

This story was reported by our partner BusinessDen.

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Source:: The Denver Post – Business

      

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