Developer demolishing RiNo warehouses, future of property unclear

Another set of old manufacturing buildings is being torn down in RiNo But unlike the boom times of the s what will happen to the site next is anybody s guess At the current point we ve got no real plans in place revealed Dean Koelbel a third generation member of the family real estate firm Koelbel Co The company hired Denver s American Demolition to tear down four industrial buildings and two trailers at Brighton Blvd next door to the Source Hotel Work began last week In the spring Koelbel submitted plans to Denver for an apartment complex on the -acre property But the firm is also considering selling the land instead Those buildings were just attracting transients and they caught on fire a couple of times so we felt we needed to get them torn down for liability purposes Koelbel noted later adding that one structure was burned three separate times Related Articles Shuttered American Ninja Warrior gym will pay K to Denver landlord How Starbucks tried to quash union activity in Colorado Bank of America playing the long challenge in Colorado Waldorf Astoria condo project breaks ground in Cherry Creek Boulder-based religious tech firm Gloo Holdings goes inhabitants The site is home to five buildings in total The Wynkoop St building tucked away in the rear of the property will remain untouched records show Koelbel s apartment proposal in early May called for two towers with combined units and square feet of retail space On the realizable sale side NAI Shames Makovsky brokers Dorit Fischer and Hayden Hirschfeld are marketing it Koelbel declared his firm has received selected buyer interest But the reality remains that ground-up advancement in the once red-hot neighborhood has gotten expensive and complicated The dynamics in Denver are tough Koelbel mentioned Nothing is pencilling Read more from our partner BusinessDen Get more business news by signing up for our Economic system Now newsletter