(To read more on the multifamily market, click here.)

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.”

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