By Maddie Rhodes | Fox31
DENVER (KDVR) — A block in downtown Denver is converting from offices into apartment spaces after a real estate company bought two towers on 17th Street.
The Luzzatto Company, a national real estate firm, purchased 621 and 633 17th St. at the start of April for $3.2 million, hoping to revitalize downtown with the over 973,000 square feet of space in the heart of Denver.
Right now, it’s a handful of offices and a grassy area just outside the 16th Street Mall, but company owner Asher Luzzatto said it’s going through a complete renovation that will cost between $150 and $200 million.
Within three years, Luzzatto said the company is planning 700 to 750 multi-family affordable apartment units. The company plans to include public and private spaces with a daycare, gym, restaurant, market, theater, coworking suites and parking garage.
If all goes to plan, Luzzatto said there could be shovels in the ground within a year, and construction would take about two years to complete. Luzzatto is planning to get a cafe and market up and running before construction is over.
“I hope this is a transformational project for downtown Denver, and I will do everything within my power to make sure it is,” said Luzzatto.