Development

Townhome Project Planned for Parcel of Land in Platte Park

DENVER —A parcel of land located at 520 E Buchtel Blvd. in the Platte Park neighborhood of Denver has sold for $875,000 or $128/ft. McAtee Properties LLC, a small Denver-based residential developer, bought the 13,563-square-foot plot of land that included an existing car wash.

Greg Titus and Brent Hubbell with Pinnacle Real Estate Advisors represented the seller in the transaction. 

“After owning the property for 20 years, the seller decided to sell and capitalize on current market conditions. The property was very attractive to the buyer due to its location. The developer who purchased the land intends on demolishing the car wash and building townhomes,” stated Brent Hubbell, advisor at Pinnacle Real Estate Advisors.

Project plans are still in concept with the city.  “Our concept site plan is for a mixed use project including townhomes and commercial spaces.  The location was a good opportunity as it has access to many of the amenities of the city.  Most of those amenities are within walking distance.  Including public transportation, restaurants, groceries and shopping.  The easy access to I-25 is a huge benefit of the location as well,” says Michael McAtee, owner at McAtee Properties.

Map courtesy of Pinnacle Real Estate Advisors

 

 

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