The Park Hill Town Center will sit on 35 acres on the northeast corner of East 40th Avenue and Colorado Boulevard. It will include a grocery-store anchored retail center being developed by Roy Phillips of Denver and 460 townhomes, condos and a few rental units by Joe Del Zotto of Delwest Inc.
Without a doubt, this will be the largest project in Park Hill, says Dick Siegel, who sold the land to Phillips with fellow Fuller and Co. brokers Alec Rhodes and Mike Kboudi. Park Hill, however, is adjacent to the much larger redevelopment of the Stapleton International Airport by Forest City.
The land was purchased for $6.15 million from Cook Inlet Region Inc., an Indian tribe from Alaska.
Del Zotto says he hopes to keep most of the units in his community below $200,000. Del Zotto tells GlobeSt.com that his housing community will be the most affordable in the area, but he still hopes to offer amenities such as a swimming pool and health club.
''Two sides of it are adjacent to the Park Hill Golf Course,'' Del Zotto says. ''Usually, you don't find these kind of New Urbanism development along a golf course. This is a great site, but it is kind of a sleeper.''
He tells GlobeSt.com he expects people considering condos in the Uptown area who would pay as much as $350 per sf for units will give his community a look.
''I think 40th is a great way to sneak into Downtown -- it's something like a six-minute drive,'' Del Zotto says. ''And if you buy something in Uptown, you have to get in your car anyway.''
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