Discovery Place Investments is the developer. ''We were going to call it Breckenridge Place, (because it is being built on the former warehouse for the adjacent Breckenridge Brewery, which brews its own beer),'' Discovery principal Bryan Barnes tells GlobeSt.com. ''But we liked Diamond because of the play on words -- rings for the ladies, and with our proximity to the baseball field, it seemed like a natural.''
The Denver city council recently approved a rezoning of the property from industrial to residential, paving the way for a new four-story, 50,000-sf building. It will have 7,000 sf of retail space on the ground floor and 60 underground parking spaces.
A restaurant likely will occupy the retail space, given its proximity to Coors Field, says architect John Yonushewski of Denver-based Buchanan Yonushewski Group, which is designing and building the new structure on behalf of Discovery Place.
Discovery Place is developing a 14-unit, very high-end loft project across the street and last fall leased the old warehouse for its sales office, he says. One penthouse unit in the smaller project recently sold for about $1.2 million.
''They got to know the Breckenridge Brewery people and liked the site so much that they bought it,'' Yonushewski says.
Units at Breckenridge Place will range from about 800 sf to 1,600 sf and will start at about $275 per sf, he says. The average size of a unit will be just under 1,200 sf.
His partner, Brad Buchanan, says this is the only new building so far in the in the fledgling Ball Park neighborhood designed to fit into the proposed historic district.
Yonushewski says the development should do well, despite the sluggish market.
''When you look at these smaller sites with 14 units and 27 units, they won't make much of a dent in the supply,'' Yonushewski says. ''And it gets back to quality and location. You can't beat a location catty-corner from Coors Field. And from the Blake Street side you will have perpetual views of the mountains and from the other side off of 22nd Street you have Coors Field. That's not too shabby.''
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