Palisade Partners Closes on Land for TOD in SoBo
Palisade Partners, developer of innovative and sustainable multifamily and mixed-use projects in Denver, has purchased 25,000 square feet (±0.57 acres) of land located at 1900 South Acoma Street in the popular South Broadway (SoBo) neighborhood.
According to plans submitted on April 6 to Denver’s Community Planning and Development department, Palisade plans to develop a 9-story, 165-unit residential building on the site, as well as 7,030 square feet of ground floor retail. The mixed-use project will also include a 96,782-square-foot parking garage. Craine Architecture is the architect of record.
Newmark Knight Frank (NKF) Executive Managing Director Chris Cowan and Transaction Manager Mackenzie Walker represented the seller, SoBo Real Estate, in the transaction.
“The transit accessibility to this location is unmatched, with an extensive list of nearby amenities in every direction,” stated Cowan. “A 5-minute drive leads to over 12.4 million square feet of upcoming development. The active transit oriented development (TOD) location of SoBo has spurred mixed-use and multi-phased development in three major projects: Broadway Station, Santa Fe Yards and Broadway Park.”
According to the city, plans are yet to be approved and a resubmittal is required to address a number of issues such as zoning, transportation and wastewater. A second concept submittal addressing these issues is yet to be submitted.