First there was the loft: the ubiquitous mid-rise commercial buildings
common to the Denver area that were converted to trendy vertical residential
neighborhoods. They were, and still are, the hot property in downtown Denver.
Developers are now taking the next vertical step with residential high-rises, most more
than 30 stories tall, with the luxury amenities found in private health
clubs and names like Donald Trump on the roster of builders.
Threats and hype over who would be first to get out of the ground have been
slung about for more than a year, but finally someone has done it.
The first to dip shovel in dirt is Eric Osborn of Osborn development. His
32-story project at 20th and Lincoln streets was more than two years in the
design and entitlement process with $7.5 million of Osborn’s cash on the
line before he knew the project would go. But once the sales office opened,
it was clear that his money was well spent. Fifty percent of the 184 units
either sold or were put on hold in just two days, he said.
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