Colorado developers are planning to add 350 apartments, about half a million square feet of office space and retail "hot spots" to an 8-acre site in River North.
Tributary Real Estate wants to call it all "Giambrocco." The Denver developer purchased about a quarter of the site earlier this month for about $8 million, according to a news release from the company.
The sites Tributary recently purchased at 3600 and 3695 Wynkoop St. currently house two buildings including The Glitter Dome Event Center. Gary Giambrocco, owner of Giambrocco Food Service Inc., sold the properties, according to Tributary.
"These two closings represent another milestone in our overall master plan that will create a vibrant and walkable neighborhood on the west side of the 38th and Blake transit stop,” said Ryan Arnold, co-founder of Tributary, in a statement.
According to property records, Tributary owns an additional sixth of an acre on the sites at 3530 and 3560 Brighton Blvd. And Gary Giambrocco is under contract to sell a third building he owns in the area at 3609 Wazee St., according to Tributary.
Gary's father, Joe Giambrocco, started a one-truck produce operation in the Denver area in 1933. By his death in 1994, Giambrocco Food Service Inc. employed 75 people, served 2,800 customers and generated $22 million in sales, according to his obituary.
The Giambroccos' namesake neighborhood is slated to include the area east of Brighton Boulevard between 35th and 38th streets. The project is still in the planning phase with no estimated start date, according to a spokeswoman for Tributary.
The area is currently home to a working mill, art galleries, manufacturing, auto-body shops, residences and offices.
Tributary recently acquired and sold the property at 3609 Wynkoop St. to McWhinney. The Loveland-based developer bought the land in July 2016 for $2.1 million and is building 84 micro-units on the site.
In addition to McWhinney, Tributary is working with Gensler Architecture, Charles Street Partners from Boston, Wenk & Associates and OZ Architecture on the project.
"It's critical to note the respect the entire design team is placing on the existing architecture and atmosphere of the area — from the rail yards to the found art — to ensure the culture and vibrancy are carried through to this latest evolution of the neighborhood," said Rebecca Stone, OZ Architecture's managing principal, in a statement.
Business & data reporter Adrian D. Garcia can be reached via email at [email protected] or twitter.com/adriandgarcia.
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