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DENVER-What had been a vacant, 31-story office building for the past decade, is now celebrating its opening today. The $79-million development by locally based RedPeak Properties is in the heart of Downtown at the intersection of the 16th Street Mall and Glenarm Place. Mayor John Hickenlooper is scheduled as a keynote speaker.
The opening of the development is a culmination of years of planning, says Mike Zoellner, president of and CEO of the privately held RedPeak Properties. "1600 Glenarm Place has always been at the epicenter of Downtown Denver," Zoellner says. "After 10 years of darkness, RedPeak Properties is proud and excited to breathe new life and vitality back into this landmark building."
Zoellner tells GlobeSt.com that the addition of 333 luxury apartment homes and significant retail and office space, as well as the impact on Downtown will be substantial as new life is infused into the 16th Street Mall corridor. "Residents will enjoy all of the conveniences of Downtown and the highest level of residential services offered in Denver," Zoellner says. "Retail tenants will flourish due to a combination of location and inherent demand from building residents. 1600 Glenarm Place is positioned to regain its reputation as a premier address in the city with unique qualities not existing anywhere else."
Jeff Hawks, principal of Apartment Realty Advisors, says that is not an overstatement. "It really is a unique development," Hawks tells GlobeSt.com "There is nothing else like it in Denver." The entire building has 450,000 sf. It opened in 1964 and once housed the Top of the Rockies on the top of the building. The average apartment size is 980 sf. Monthly rents range from $930 to $5,500. The development also includes 20,700 sf of retail and 14,700 sf of office space.
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