DENVER-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that international real estate firm, Hines, in conjunction with Jordon Perlmutter & Co., just held a groundbreaking ceremony celebrating the start of construction on 1601 Wewatta. The new class A, 300,000-rentable-square-foot office building is located in the Central Platte Valley district of Lower Downtown Denver.
While the firm could not disclose construction costs or any financial information with GlobeSt.com on the project, the site is directly adjacent to the $480-million Union Station redevelopment project that is transforming the historic Union Station building into Denver’s premier multi-modal hub for light rail, commuter rail and bus transit, according to Hines.
Hines will be developing the project in a joint venture with Jordon Perlmutter & Co., the current owner of the site, and JPMorgan Chase, who was recently selected to be the third-party equity partner for the project.
Dignitaries presiding at the ceremony were: Jay Perlmutter, principal, Jordon Perlmutter & Co.; Ken Lund, executive director of the Colorado Office of Economic Development and International Trade; Mark Cover, CEO of Hines’ Southwest regional office; and Charles Elder, senior managing director, Hines.
“1601 Wewatta will set a new standard for Denver’s Class A space, with its combination of world-class architecture and all the features of state-of-the-art office space in an irreplaceable location,” Elder says. “We are excited to have the opportunity to develop another landmark structure in LoDo.”
Check back with GlobeSt.com for an update on this story with more from Hines’ director Gordy Stofer.