The Denver construction and architecture firm Oyster International dropped $1.6 million last month on a former car wash in Five Points.
The firm plans to build a 17-story building on the property at 838 W. Park Ave., said Tom Monks, principal broker at Equity Commercial Real Estate.
Monks represented the seller, B&R Lawrence LLC, in the transaction. Oyster International co-founder Charlotte Dagg didn't immediately return a call from Denverite.
Oyster International hasn't submitted a formal proposal for the property yet, but a conceptual plan shows a multi-family building with about 130 condo units, according to the Denver Community Planning and Development department.
The property near the intersection of Champa Street and West Park Avenue is part of the Arapahoe Square zoning district approved by Denver City Council in June to encourage the construction of taller buildings in the area between downtown and Curtis Park.
I Candi Carwash leased the property until summer 2014. Before that, the nearly 60-year-old building served as an auto mechanic shop.
Business & data reporter Adrian D. Garcia can be reached via email at [email protected] or twitter.com/adriandgarcia.
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