Larimer Place, a Downtown Denver high-rise condo complex that was constructed over three decades ago may soon be undergoing a renovation. Plans are being considered to revamp the third floor deck which currently houses tennis courts. The proposed plan is to renovate the floor into eight high class townhome-styled units. The plan also includes the addition of space for retail at Larimer and 15th Streets.
Larimer Place, which was built in 1981, consists of a 31 story tower. The project was among the last of the high rise condo buildings that was built in Downtown Denver until the Residences at Four Seasons Denver, One Lincoln Park, and Spire opened in recent years.
The demand for luxury homes in Downtown Denver has risen. The units are deigned to appear similar to townhomes but, for legality reasons, will be condos.
Fuller Sotherby’s International Realty broker, Ann Atkinson, states that she feels that the idea is a fantastic one. Atkinson favors the project and has presented her conclusion of such to the Larimer Place Homeowners Association that will need to approve the project before the renovation begins.
On January 17th, the HOA will hold a public forum. On January 31st, homeowners in the building will own the proposed project. For the plan to be approved there must be a rule of a majority of the homeowners in favor of the plan. If the plan is approved, construction will begin next fall and will be complete in the spring of 2014.
Larimer Place HOA president, David Stafford Johnson states that the plan will strengthen and put Larimer Place back into the gem of luxury condo living in Downtown Denver. Davis Partnership Architects has been retained by the HOA to consider options for the renovation. BuildMark and Davis Partnership are working together and have put together a 22 page analysis which includes plans of the units which are projected to sell for an average price of $560 per square foot. The units will run from 1,677 square feet to 2,000 square feet. The new condos / townhome will rank at the top of the market in luxury condos and are projected to boost property sales statistics. With the addition of the new units the HOA will generate somewhere from $6K to $7K monthly in HOA fees. Larimer Place residents will have the first option to purchase the units at a 5% discount. The project is considered to be one that will add property value to the existing condominium, and there is no cost to homeowners. The goal is to renew, refresh and upgrade the identity and image of Larimer Place.
Where will the tennis courts go? If the project goes through, the location of the new tennis courts will be at 16th Street on the northeast side of the building.
The new townhomes will have their own private elevator and cooling and heating systems so there will be no impact to existing units.