DENVER-Local developer Erik Osborn hopes to break ground by the end of the year on a 31-story, $140-million luxury condominium tower called One Lincoln Park. It would be one of the largest buildings built Downtown in the past two decades and is one of a handful of new towers on the drawing board.

Osborn plans to develop One Lincoln Park on a surface parking lot bordered by 20th Avenue and 20th Street, as well as Lincoln and Welton streets. Osborn says he already has received interest from some prospective buyers interested in units costing north of $3 million.

One Lincoln Park will be near the 43-story 1999 Broadway building, which was the last CBD high rise built Downtown. It opened in 1985. Osborn, an urban developer who also in the past has built buildings for a number of large apartment REITs based here, says that One Lincoln Park will take its cues from luxury high rises found in cities such as Chicago, New York, San Francisco, Boston, Vancouver and Miami.

The locally based Buchanan Yonushewski Group is designing the tower. Brad Buchanan describes the building as being very contemporary and modern, and nothing at all like anything else in Denver. He says that while many people ignore the block, it actually is an ace location.

"I've driven by that irregularly shaped block a thousand times, but never really noticed it," Buchanan tells GlobeSt.com. "But when Erik showed it to me, I saw all of its potential. It's in the CBD, but it also is basically up next to the Uptown neighborhood. One Lincoln Park will really energize the entire area."

Osborn and Buchanan also note that the building will be constructed nextto two light rail lines. "This will be one of the first true, transit-oriented developments in the CBD," Buchanan says.

Charlie Woolley, principal of the St. Charles Town Co., is planning his own condo high rise on a portion of a block he owns along 14th Street. He is not involved with One Lincoln Park. Osborn's partners are Doug Moreland, one of the largest automobile dealers in the Rocky Mountain region, and Tom Manoogian, a sports talk radio personality, who heads his own marketing company.

"I think One Lincoln Park is great," Woolley tells GlobeSt.com. "There are a lot of empty parking lots in that part of the city. A lot of people were skeptical about the location of Tower on the Park [at 1950 Logan St. in Uptown], but that has turned out to be the hottest selling project in Denver." Buchanan Yonushewski also designed Tower on the Park.

Woolley says his only concern is that high-rise construction such as this takes two years to build. "It's hard keeping reservations for two years, because they'll have so many choices in that time period," Woolley says. "But I certainly will be watching how their pre-sales go."