JLL is representing the University of Denver in bringing to market a rare opportunity—1958 S Josephine St, a 1.73-acre multifamily development site situated in Denver’s desirable University Park neighborhood. The whisper price is approximately $11 million.
The 75,400-square-foot infill development site benefits from G-MU-5 zoning that allows up to five stories and 65 feet in height, or up to seven stories and 90 feet by complying with Denver’s enhanced affordability incentives. The zoning permits residential, senior housing, and student housing uses while offering flexible development conditions such as limited setback requirements and no on-site retail dedications.
Located at the northeast corner of S Josephine St and E Asbury Ave, the property currently features three vacant buildings and offers exceptional connectivity to Denver’s transportation network. The site is situated minutes from the University of Denver RTD station serving both E and H Lines, providing direct connections to Union Station, the Central Business District, Denver Tech Center and other key destinations throughout the metro area.
The University Park neighborhood presents strong fundamentals for multifamily development, with 50.3% of housing units occupied by renters and a highly educated population where 78% of residents hold bachelor’s degrees or higher. The area’s proximity to the University of Denver, which serves approximately 12,000 graduate and undergraduate students across more than 200 academic programs, provides consistent rental demand from both students and young professionals.
JLL Capital Market’s Investment Sales and Advisory team is led by Director Chris Musselman, with Senior Vice President Karlen Beitman and Associate Vice President Steven Gilbert from JLL Work Dynamics’ Government and Education advisory practice who oversee direct client engagement and higher-education advisory services.
“This transaction represents a prime opportunity for developers to create distinctive residential housing in one of Denver’s most established university neighborhoods,” said Musselman. “The site’s flexible zoning, strong transit connectivity and proximity to major employment centers make it an attractive investment in today’s market.”
The property’s location provides residents with access to numerous shops, restaurants and entertainment options surrounding the University of Denver campus, while offering convenient commutes to major employment nodes including downtown Denver and the Denver Tech Center, both within 15 minutes by car.
This news comes on the heels of another announcement that DU has accepted a formal invitation to join the West Coast Conference. The new alignment takes effect on July 1, 2026, and positions DU to join highly regarded academic and athletic institutions in a premier conference.
