The Crawfords are calling their five-acre site Prospect Place. It is adjacent to a historic renovation of the Benedict Warehouse condominium project being developed by Gart Properties. Lincoln Properties and Phoenix Properties also plan luxury rental projects in the fledgling neighborhood.
All told, an estimated $900 million in projects will be built in the 40-acre area.
When Prospect Place is completed, it will include seven buildings with a total of 415 units and 40,000 sf of retail space, says Jack Crawford. His mother, Dana, was one of the first historic preservationists in Denver.
Units in the Ajax building range from 650 sf to 2,600 sf and in price from $163,000 to $535,000. Units are priced from $195 per sf to $340 per sf. Five of the units are ''affordable'' for people who earn 80 percent of the area median income. Those units, pried from $130,000 to $136,000, are all under contract.
Jack Crawford, who is spearheading the development, says Prospect Place is at a ''crossroads to everything in Denver,'' because of its proximity to Interstates 25 and 70, the HOV bus lanes, and an easy walk to Lower Downtown.
In order to encourage alternate modes of transportation, he says every buyer with one parking space will be given a motorized scooter.
''The scooter serves both as a metaphor and as our trademark,'' Crawford says.
There are currently about 1,500 housing units under construction Downtown and another 5,000 in planning stages, says Anne Warhover, president of the Downtown Denver Partnership.
''More housing is going forward today than were built in the previous 10 years,'' Warhover tells GlobeSt.com. ''We're closer and closer to the number critical to have a true 24-hour city.''
The Ajax building incorporates an ''industrial architecture'' style found in buildings in the area during the railroad era. From the 1890s to 1933 many of the residents of the Bottoms, who were mostly Italian immigrants, were employed by the railroad.
Chris Shears and John Williams Architects are designing the project. The Weitz Co. is building it. Civitas is the land planner.
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