2250 Champa Street , Denver, CO 80205(Denver County)

Invest confidently in a thriving commercial market with the acquisition of a 0.65-acre parcel primed for new development in Downtown Denver, Colorado. This vacant site, located at 2250 Champa Street and 838 West Park Avenue, offers investors the opportunity to benefit from new construction in the bustling urban district of Arapahoe Square, with growing commercial and residential expansion demand. A distinct feature of 2250 Champa and 838 West Park Avenue that sets it apart from other locations in the city is its strong visibility to the high-volume Park Avenue, which is a main thoroughfare connecting major highways such as I-70 and I-25 to downtown. The property is also within walking distance of the 16th Street Mall and Coors Field Ballpark, Market and Larimer Street nightlife, and the 5280 Loop biking/walking lanes to Union Station and around LoDo. The property's strategic access to an abundance of pedestrian foot traffic will prove invaluable to new construction featuring ground floor retail space.

Downtown Denver has seen an increase in new construction, mirroring the city's exponential population growth over the last few years. A new 25-story high-rise is proposed for the adjacent lot, positioning the immediate area for continued growth. The project will feature 897 residential units with ground floor retail, on-site parking, and high-end amenities. While development has become highly competitive, demand continues to rise for multiple use types.

Multifamily segment demand is being driven by renters who qualify for high-end apartments. While demand has held up best at the top end of the market, 70% of Denvers pipeline is in the luxury category. This opens the lane for developers to construct mid-tier multifamily buildings with luxury features that will capture the high-end renters in the Downtown Market. Rent growth in this segment remains stable and above the national average, but landlords can anticipate a positive trajectory in the coming years as Denvers supply wave subsides.

The hospitality market also continues to demonstrate stable momentum through 2024. Despite a softer first half of the year, Denver is forecast for annual occupancy, ADR, and RevPAR growth through 2029. Demand for hotels is projected to grow in the near future with improved business and leisure travel. An increase in conferences and conventions with higher attendance levels, corporate travel reemerging, and a surge in sports tourism have all played a role in strengthening the hospitality sector.

Denvers continuous investment in tourism infrastructure will lure more businesses, residents, and visitors to the metropolitan. A few major projects to note include the Denver International Airport, which is undergoing a $2.4 billion renovation and expects more than 120 million visitors by 2045, the Colorado Convention Center, which completed a $233 million expansion in December 2023, and the 16th Street Mall, which is undergoing a $150 million outdoor overhaul.

The city has seen strong growth across key demographic trends within a 1-mile radius of 2250 Champa Street and 838 West Park Avenue. This affluent population has approximately 51,000 residents who are earning an average household income of nearly $102,000. As the population continues to increase at a significant rate, demand continues to increase for housing and commercial amenities for the community.

Denver strongly emphasizes economic expansion and innovation, attracting global investors who desire a booming economy that will maximize profitability. With the acquisition of 2250 Champa Street and 838 West Park Avenue, developers are guaranteed a valuable venture that will be welcomed by the Arapahoe Square community. Investors can purchase the land for a custom project or inquire about an entitlement package that includes approved massing and a site development plan for a dual-tower mixed-use project.