"There have been a number of announcements made about plans for other Downtown office buildings, but ours is the first to be official and have a date set for the start ofconstruction," says Mike O'Neil, vice president of acquisitions for Legacy.
"Legacy is a strong developer and the Downtown area has never been a more desirable place for tenants," says Rich Morean, vice president with Kennedy Associates Real Estate Counsel, which is advising MEPT.
MEPT is a $2.8-billion equity real estate fund that invests in new construction projects throughout the United States. Legacy Plaza is MEPT's third development in the Denver metro market. The other two developments are Coal Creek in Louisville (three buildings totaling 225,000 sf) and Peakview Plaza in southeast Denver (two buildings totaling 195,000 sf).
Legacy will be located at 15th and Wewatta streets, a short walk to the trendy Lower Downtown. In addition, there are hundreds of millions of dollars in luxury lofts and condominiums under construction near Legacy Plaza.
The 10-story office tower will feature floorplates ranging from 26,000 sf to 35,000 sf.
There will be one level of underground parking, and an adjacent parking structure providing a 2/1000 parking ratio will be constructed concurrently with the office building. The parking structure will be located to the west of Legacy Plaza. Legacy Plaza parking ratios will be two to three times greater than typical Downtown office buildings.
Klipp Colussy Jenks DuBois Architects are designing the building, which will feature a curved curtain wall that will face the 16th Street Mall and Wewatta Street. Legacy Partners worked closely with the city and architectural team to develop a design that would signify the transition between LoDo and the CPV.
"Legacy Plaza is already drawing significant interest," says Tom Lee of Denver-based Frederick Ross Co., which is co-listing the building with Scott Garel, also of Ross. "The success of the surrounding residential projects is spilling over into a need for more commercial and office space in the area. Legacy Plaza is the first project to answer this call."
Legacy Partners has 13 projects in the Denver metro area totaling approximately $200 million.
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