From hundreds of parking spots and offices to hundreds of bedrooms.
That’s what Dallas, Texas-based developer Trammell Crow Residential wants to see just east of the Interstate 25-Interstate 225 interchange.
On Monday, the company submitted development plans to Denver proposing 660 apartments across two 5-story buildings to be constructed on the 10-acre site at 7601 E. Technology Way.
For that to happen, an existing 6-story office building would have to come down. Built in 1997, the building is home to video conferencing company Zoom and a handful of other tenants. The parking lot was moderately full and employees milled in and out of the building around lunchtime Wednesday.
Two existing parking garages on-site would be connected to the new apartments, the plans show. A different 6-story office building on the property would also remain. But much of the parking that fills the remainder of the land would become housing.
The proposed development would span two properties owned by Morning Calm Management, a South Florida-based real estate investor. The firm gained ownership of the properties last month through its acquisition of City Office REIT, which purchased the site in two transactions last decade for a combined $84 million.
The same day Morning Calm closed on its acquisition last month, records show the firm took out a $90 million loan on the properties from Athene, an Iowa-based insurance company.
Morning Calm did not respond to a request for comment. Trammell Crow Residential declined to comment.
The project would bear Trammell Crow’s Alexan branding. The company has other Alexan projects in the Highlands, Platt Park, Green Valley Ranch and Aurora.
If the plans come to fruition, the 7601 E. Technology building wouldn’t be the first newer office in the suburbs to be demolished. A former Arrow Electronics building in Centennial, erected in 2001, was torn down to make way for apartments last year.
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Clinton Mora is a reporter for Trending Insurance News. He has previously worked for the Forbes. As a contributor to Trending Insurance News, Clinton covers emerging a wide range of property and casualty insurance related stories.