The development site is at the southwest corner of 15th andWynkoop. Van Gilder's lease, for the second and third levels of thebuilding, is the first signed tenant for the building. The companywill be relocating from 700 Broadway. "Strong growth over the pastseveral years mandated a new, larger location for our firm,"company chief executive Michael Van Gilder says.

Designed by Hartman-Cox Architects, 1515 Wynkoop will be clad inbrick and glass in deference to the historical tradition ofneighboring structures. Other features include 425 below-gradeparking space and 27,000 sf of street-level retail. The project wasannounced in September. Construction is scheduled to commence March14. Project completion is scheduled for October 2008.

Lower Downtown is experiencing a renaissance of late. Inaddition to the redevelopment of Union Station and the surroundingarea, two other office building projects are in the works. Vacancyin Lower Downtown is in the mid single digits and full-serviceasking rates new office space are $30 to $35 per sf per year.