Vacant site near Coors Field sold

DENVER — A New York City-based developer purchased property near Coors Field last week with plans to build a 12-story residential tower.

BusinessDen reported Wednesday that Property Markets Group paid $6.87 million for 1.1 acres between Park Avenue and 20th Street, according to property records.

The seller was Denver-based Westfield Co. Partner Randy Schwartz said the company purchased the land more than two years ago with the intent to either develop or sell it. The vacant site is wedged between Inca and Huron streets and railroad tracks to the north.

“That’s a scarce commodity in the lower downtown area,” Schwartz said, referring to cleared land.

Plans on file with the city, which have not yet been approved, show Property Markets wants to build a 384,000-square-foot tower at the site. About 85 percent of the space would be devoted to 319 residential units with one to four bedrooms.

The plans also call for 6,300 square feet of restaurant space and 1,700 square feet for an art studio. The remaining space would be parking.

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