New Steam on the Platte Redevelopment Project Transforms Abandoned Neighborhood into a Vibrant, Mixed-use Community
NIMBL Secured as First Tenant for Q3 2016
DENVER, July 21, 2015 /PRNewswire/ -- Urban Ventures, LLC, and White Construction Group are trailblazing a progressive redevelopment, Steam on the Platte, by rediscovering the city's oldest (and newest) urban neighborhood. Steam on the Platte is a 3.2-acre, mixed-use project in Denver's abandoned, industrial corridor of the Platte River, located near the I-25 viaduct at 14th Avenue and Zuni Street. Construction will begin in fourth quarter of 2015, and the first phase will be completed by third quarter of 2016.
Steam on the Platte's namesake honors the juxtaposition of industry and nature, connecting the character and bold energy of the area's industrial steam plants and smokestacks with the Platte River's beauty, movement and sustainability. No other Denver property can boast this synergy. Its convenient downtown location, light rail stop, bike path, sports arena access and riverside setting make it desirable for businesses and residents who crave an authentic blend of Denver's historical and edgy culture.
"The idea of new life in this industrial corridor is transformational, both culturally and economically," said Paul Washington, executive director of the Denver Office of Economic Development, and champion of the redevelopment. "Steam on the Platte is a catalyst for both the redevelopment of Sun Valley and the Platte River, which are high priorities of Mayor Hancock."
The project hearkens back to the Denver of the late 1800s. Steam on the Platte includes the largest remaining undeveloped exposed brick-and-timber warehouse in the city, which had been neglected for several decades. Urban Ventures and White Construction will transform the 65,000 square foot warehouse into creative new office space. In addition, an existing building that features a bowstring roof adjacent to the river will host a restaurant that is slated for completion in late 2016 – early 2017. Future phases of development include additional commercial office and residential space.
"Steam on the Platte is the perfect blend of environment and industry, inspired by the spirit and energy of Denver," said Susan Powers, president and founder of Urban Ventures. "We discovered a local gem that just needs some polishing."
Urban Ventures and White Construction formed a partnership in 2014 to acquire and redevelop this property. The development team has selected tres birds workshop as architect for the renovation of the site's signature warehouse. White Construction Group will be the contractor for the project. This team is recognized for their historic preservation and adaptive reuse projects recycling former industrial properties.
NIMBL, a leading SAP technology-consulting firm, is the anchor tenant for the renovated warehouse, and will set the stage for other innovative technology and creative businesses to join the community. According to Yosh Eisbart, CEO and cofounder of NIMBL, "This redevelopment is aligned with our core values for revitalization, discovery and leadership. We embrace the project's old-and-new impact and are excited about being part of a major activation within this historic neighborhood."
For additional background on Steam on the Platte, contact Susan Powersat 303-446-0761 or visit www.steamontheplatte.com. For leasing information, contact Hayden Hirschfeld or Dorit Fischer of NAI Shames Makovsky at 303-534-5005 or visit www.naishamesmakovsky.com.
About Urban Ventures, LLC
Urban Ventures, LLC, is a Denver-based real estate development company whose mission is to redevelop urban properties into communities that make positive contributions to their neighborhoods' fabric while they create sustaining value. Susan Powers and four partners formed Urban Ventures in 1998. For the past 17 years, Urban Ventures has developed award-winning residential and mixed-use developments in a variety of neighborhoods close to downtown Denver.
About White Construction Group
White Construction Group is a general contractor based in Castle Rock that specializes in commercial construction, design-build, historic preservation and adaptive reuse projects. White Construction Group is committed to progressive, forward-thinking developments that benefit the community. For the past 30 years, White Construction group has managed almost $1 billion in construction projects across the Rocky Mountain Region.
SOURCE Urban Ventures, LLC
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