Townhomes proposed to replace office building on Folsom

BOULDER — A group of investors has plans to build 29 townhomes in four two-story buildings at the northeast corner of Folsom and Walnut streets in Boulder.

Documents filed with the city of Boulder’s planning department reveal that Folsom Offices, a 45-year-old two-story, 21,124-square-foot office building constructed in 1973, will be razed to make way for the townhomes.

Roger Grow, president of AGR Building Inc. in Boulder and part owner of the general partnership for the project, said tenants will be vacating the building by the end of March and demolition could begin within two to three months.

The group of investors providing the equity are using the entity 1900 Folsom LLC. The group of investors bought the 1.28-acre property for $5.6 million last year from Minotaur LLC, registered to John Volkmar of Boulder. Minotaur LLC purchased the property in 2014 for $3.4 million, according to public records, and continued to lease offices to tenants. 

The townhomes will range in size from 1,500 square feet to 2,000 square feet, with a mix of two- and three-bedroom units with tuck-under parking. Grow said they likely will be for sale at market-rate prices. The group will be paying approximately $1 million to the city of Boulder in affordable-housing in-lieu fees for the 29 units.

AGR Building Inc. will serve as general contractor. JVA Inc. in Boulder is the civil engineer for the project. Boulder-based Studio Architecture is the designer, and Outside L.A. LLC of Boulder will handle the landscaping, according to planning documents.

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