The auditorium will allow the city to attract high-end medical and technology conventions that otherwise might bypass Denver.
The city looked at several other options, including putting the auditorium where an existing fire station is located, but decided it made the most sense to condemn Terracentre. About a month ago, the city said it would not condemn the building.
Matrix Capital Bank, with $1.6 billion in assets, recently paid $11 million for the building, where it plans to locate its headquarters. Bank chairman Mark Spencer says he is unhappy about the latest turn of events. He is in the process of moving employees and installing technology in the building.
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