PMG, a national investment, development and asset management firm, is proposing the construction of a new 5-story, 172,000-square-foot luxury condo building at 185 N. Steele St. in Cherry Creek North.
According to a concept plan filed with the City and County of Denver, the New York-based developer plans to offer 37 condo units as well as a 70-stall, underground parking garage located on approximately 0.67 acres of land. The development will also allocate 4,360 square feet for a street-level restaurant and bar on the corner of 2nd Ave and St.Paul, as well as 3,532 square feet of retail on the corner of Steele and 2nd Ave.
The architect for the project is Shears Adkins Rockmore.
Design documents submitted to the city in April indicate that the brand associated with the development is Waldorf Astoria, a luxury Hilton brand.
Condos will range in size between 1,894 square feet and 2,879 square feet and plans also include unit balconies and an amenity deck.
Plans outline a proposed start date of Jan.1, 2025, with completion in 2026.
Founded in 1991 by Kevin Maloney and led by Managing Partners, Ryan Shear and Dan Kaplan, PMG has grown from a local real estate operator in New York City to a national investment, development and asset management firm operating across Florida, New York, Colorado, South Carolina, Tennessee and Georgia.
In July 2021, PMG and Toronto-based private equity and asset management firm Greybrook Realty Partners purchased the Denver7 building on the 2.3-acre site at 123 Speer Blvd. for $35 million.
