Downtown Office Depot To Be Transformed Into Mixed-Use Development

By John Mossman
The Denver Post

The downtown property that currently houses Office Depot at the corner of 16th and Market streets will be transformed into a new 10-story mixed-use development called 16M.

It will offer office space, street-level retail and restaurant amenities and, on the upper floors, residential units.

Completion of the project — which is being developed by Integrated Properties Inc. along with Elevation Group and Sage Hospitality — is planned for early 2014.

The project, which has been approved by the Lower Downtown Design Review Board, includes residential rental units, 130,000 square feet of office space, 15,000 square feet of retail space, a rooftop fitness center and outdoor terrace, and three levels of underground parking with direct access to all floors.

"We're very excited about the momentum in the LoDo district and are confident 16M's visibility and easy accessibility for both tenants and residents will exemplify the mixed-use, work-live-play vitality of the district," said Bruce Deifik of Integrated Properties.

"Easily accessible urban locations have become more attractive as fuel costs remain high and as companies attempt to boost recruitment efforts by providing greater convenience to employees."

Jamie Gard — executive managing director of Denver-based Newmark Knight Frank Frederick Ross, which is the leasing and marketing agent for the project — said the Office Depot will be demolished to make way for the development.

The street level likely will be all restaurants, Gard said. "Anything from high-end, white-tablecloth to fast casual," he said, "and the hope is to have a blend. We're talking to a bunch of people."

Floors two through six will be offices, and 43 rental units will occupy floors seven through 10.

The project initially was proposed as a 180-room W Hotel with 56 condominiums on top.

The design review board sent the developers back to the drawing board in March, asking the architecture firm Gensler to modify the plan to remove rooftop functions that violate height limitations, break up the mass of the facade along Market Street, integrate the architecture of the residential portion with the office portion, and emphasize the corner of the building.

Re-posted by: Legend Retail Group
www.legendretailgroup.com
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