Mortenson pays $4M for parking lot south of Mile High with plans for apartment complex – The Denver Post

A parking lot south of Mile High stadium has been sold and an apartment development is planned.

Minneapolis-based Mortenson, a major general contractor that also does some development work locally, purchased the 0.9-acre 2506 W. Colfax Ave. lot in recent days for $3.7 million, according to public records. The deal works out to $95 a square foot.

Mortenson Vice President of Real Estate Development Taber Sweet told BusinessDen the company plans to build an eight-story, 200-unit apartment building at the site. The site development plan submitted to the city calls for two levels of parking to be incorporated into the structure.

“Our goal is to break ground the first week of February,” Sweet said, noting that depends on the city’s plan review process.

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