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DENVER – Developer Phil Kaplan has ended his contract to buy the Red Lion Hotel parking lot near Invesco Field, said a representative of Mile High Hotel Ventures, which owns the parcel.
Mile High still plans to convert the parking lot to a residential condo complex or pursue other “value-added development strategies,” Ken Okajima, managing director of the hotel company, said in a recent e-mail.
Kaplan, managing partner at Place Properties, has declined to discuss plans for the site. Others who saw preliminary plans said they called for two 20-story condo towers.
The Red Lion Hotel building was not part of the contract, Okajima said.
