Back in 2006, Toronto-based developer Great Gulf purchased the lot at the corner of 14th and Lawrence streets in downtown Denver for $12.5 million with plans of constructing the city’s tallest residential building. Two years later, as real-estate prices plummeted, the company pulled the plug on the 51-story tower. Now, with Great Gulf’s office development partner First Gulf Corporation at the helm, the project has been reborn as a downsized 21-story, 290,000-square-foot office tower. With Dallas-based design-build firm Beck Group on board, First Gulf hopes to break ground in early 2014.
As the reopening of the highly anticipated Denver Union Station nears and young professionals flock to downtown, the demand for office space has skyrocketed, creating one of the hottest office markets the West. First Gulf plans to break into this market with a LEED Gold package containing 7,500 square feet of ground floor retail, six levels of indoor parking, and 13 floors of premium office space. Additionally, 1401 Lawrence is set to include a fitness center, outdoor terrace, bike storage, and other tenant amenities.