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Appraisals Torpedo Terracentre Condemnation

DENVER-Appraisals of the 14-story Terracentre office building next to the Colorado Convention Center come back at $11 million to $14 million, too far north of the $9 million the city was willing to pay for a 4,000-seat auditorium site.

By John Rebchook | Updated on May 25, 2001

DENVER-The city has decided not to condemn the 14-story Terracentre office building next to the Colorado Convention Center. It was too rich for its blood.

The city was in the early stages of a condemnation proceeding with plans to raze the building to make way for a 4,000-seat auditorium that would be part of the $268-million expansion of the convention center. However, appraisals of the property indicate it would cost the city $11 million to $14 million to buy the building, while the city was only prepared to pay up to $9 million. Denver-based ROC Properties paid $6.5 million for it a year ago.

The auditorium may be added in a future phase of the convention center.

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