On February 2, Denver-based Revesco Properties and Davis Partnership Architects submitted concept plans to the city to convert a 16-story office building at 475 17th St. into affordable and market-rate multifamily units.
The existing building is 16 stories and will account for roughly 210 units. According to plans, the project will include studios, one-bedroom, two-bedroom and three-bedroom units. The adaptive reuse of the existing office building will also include a small amount of ground-floor retail as well as coworking and fitness facilities
“We’re working closely with Denver’s Community Planning Department and other agencies to program this building to the best benefit of the city. We’re confident that 66% of the building will be 80% AMI but nothing is truly off the table,” said Evan Kurtis, construction manager at Revesco Properties. “If we’re successful with this project we certainly hope to do more.”
According to Kurtis, Revesco anticipates a 14-month build for the project and is targeting the start of construction in Q4 of 2025. Nick Allen, development manager at Revesco is also integral to the success of the project.
In August 2023, the City and County of Denver released a study evaluating the compatibility of underutilized office buildings for potential conversion to residential uses. The study, which was funded by the American Rescue Plan Act (ARPA), identifies 21 downtown buildings that are “Good Candidates for Conversion.” The study found 475 17th St. to be 76% compatible for conversion. Some of the factors used to determine whether a conversion is feasible included walkability, proximity to transit, natural light, the shape of the building, existing window-to-wall ratio, and ease of window replacement.
In addition to the study, the city has also launched an Adaptive Reuse Pilot Program in Upper Downtown. The pilot program will help support the conversion of commercial office space to multi-use residential space by providing a dedicated project coordinator to help applicants through the review and permitting process. Property owners can apply here.