Shea Looking to Repurpose Empty Denver Offices

Shea Properties is asking Denver to okay its plans to convert an office into a residential building near the Denver Tech Center.

The Denver Business Journal reports the four-story office building, located near the interchange of Interstate 25 and Interstate 225 on the west side of I-25, has been vacant for at least the last five years.

In its plans, Shea has proposed converting the 124,000-square-foot office building into 143 units, targeting future tenants making between 30% to 70% of the area’s median income. The units would include studios, one-bedroom, two-bedroom, three-bedroom and four-bedroom options. In addition, the converted office building would come with a game room, fitness center, laundry and storage. 

The conversion project has secured $6 million from Denver’s Direct Allocation Private Activity Bonds from Denver’s Department of Housing Stability. Other affordable housing bonds and tax credits for additional funding will be explored.