Opus, Income Property Specialists Building Condos

The two companies will develop as many as 286 for-sale units, mostly in two structures of up to 22 and 28 stories. The unit sizes and prices have yet to be determined, John Shaw, head of Opus Northwest's local office, tells GlobeSt.com. Opus Northwest has developed more than five million sf in the metro area.

In addition, Allied Realty Services, an apartment developer with offices in Denver and Houston, has acquired 143,505 sf of land and two existing structures. Allied has begun constructing 240 market-rate rental units. The last building will be completed in the summer of 2006. The projects will include two new four-story building and the redevelopment of the existing 261-space parking garage and a five-story, former medical building.

And Wonderland Homes, based in Louisville, CO, is completing its design for 120 for-sale condominium units. About 10% of the units will be priced as "affordable work force housing." Wonderland plans nine separate three- and four-story buildings with a combination of one-story and two-story condo units.

Mayor John Hickenlooper and city council president Elbra Wedgeworth sat behind the controls of a giant hydraulic machine and used its shovel to rip down the walls of one of the buildings in a recent groundbreaking ceremony.

Mercy Hospital, built in 1901, closed in 1995. Hickenlooper notes that when he was laid off as a geologist during the mid-1980s, the company hired a psychologist to talk to everyone who lost their job. The psychologist told them that with change always comes loss. And the loss must be recognized and mourned, so you can move on.

That is the case with Mercy Hospital, where for 94 years thousands of people were born, died and treated for illness, Hickenlooper says. Now, the site will move on to its next stage, which will be a welcome addition to the city and the neighborhood, Hickenlooper says.