Miami-based Renzi Development unveiled plans for a $500-million condominium community in downtown Denver called Paradise Living. The two, 40-story towers would include 800 units and 30,000 square feet of retail at 1901 Arapahoe St.
Renzi has the site under contract with Buzz Geller for $22 million, though has not yet submitted formal plans to the city. The land acquisition is expected to close once development approvals are secured. The 55,000-square-foot site is zoned to allow buildings up to 400 feet in height.
Units in the 1.1-million-square-foot project are expected to be priced starting in the low $300,000s, to more than $1 million. The developer plans to commence construction once 200 units are pre-sold, with first unit deliveries envisioned for fall 2019.
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