St. Lukes Uptown
The neighborhood between 17th and 20th Avenues and Grant and Clarkson Streets
The St. Luke’s Hospital began operations in the late 1800s with construction of the historic hospital building in 1921. When St. Luke’s merged with Presbyterian Hospital in 1990, and moved operations further east to the Presbyterian/St. Luke’s Hospital facility, the St. Luke’s complex consisted of 10 acres with numerous buildings, some of which had environmental contamination. The St. Luke’s complex was owned by Columbia Health One LLC, who tried for 5 years to sell the property prior to entering discussions with the City of Denver in 1996 on alternate uses for the site. In addition to the defunct hospital complex, the neighborhood suffered from an abundance of surface parking lots and dilapidated buildings.
The City’s plan for the property, and the surrounding neighborhood, called for redevelopment of the area into a mixed-use, residentially focused neighborhood that would provide workforce housing and smaller retail opportunities. Redevelopment plans called for rental and ownership opportunities for low, middle, and high-income households. As the neighborhood had sufficient low-income housing, the redevelopment plans for St. Luke’s focused on market rate rental and for-sale units. In addition, redevelopment plans called for high-quality streetscapes and an enhanced pedestrian environment, in order to attract residential interest in the neighborhood.
Through an RFP process, DURA and the City selected Columbus Realty Trust to develop the St. Luke’s complex into over 1,000 apartment and for-sale residential units in 4 to 5 story buildings with structured parking, along with retail and office space on the ground floor. Prior to the execution of the Redevelopment Agreement with DURA, Columbus Realty Trust was acquired by Post Properties. Post Properties continued with the project, naming the project Post Uptown Square, and developed 696 apartment units along with 60,000 square feet of commercial space.
DURA provided Tax-Increment Financing for the public improvements of the project, including enhanced streetscaping, restoring the vacated Pearl Street from 19th to 20th Avenues, and various utility and drainage projects in the rights-of-way. The enhanced streetscape installed around the project consists of brick sidewalks, street trees, benches and public sitting areas, trash receptacles, landscaping and decorative street lights.
Additionally, outlying parcels of land that were originally part of the St. Luke’s complex were developed by separate companies and in later phases due to market conditions. The St. Luke’s Lofts were developed by the Fullerton Company in 2001, and consist of 41 units of for-sale loft condominiums along Washington Street between 18th and 19th Avenues. The Park Avenue Lofts project is currently under construction between 19th, 20th, and Park Avenues and Washington Street, and is a 195-unit residential apartment building being developed by Martin Fein Interests, Ltd. Completion of the Park Avenue Lofts is scheduled for summer 2009.
fact sheet
Project Description:
Redevelopment of the vacant St. Luke’s Hospital and surrounding 27 acres into a mixed-use development that includes for-lease and for-sale residential units and approximately 60,000 square feet of commercial space
Developer:
Post Properties
The Fullerton Company
Martin Fein Interests, Ltd.
Current Owner:
Equity Residential (owns and manages the 696-unit apartment complex)
Total Project Cost:
$138 million for the Post Uptown Square Apartments and the St. Luke’s Lofts
DURA Participation:
$4 million in TIF reimbursement and debt service on a $3 million loan from the City
Tax Increment Source:
Property and Sales Taxes
Term:
Reimbursement of developer or July 31, 2021, whichever is sooner
Major Tenants:
Numerous smaller tenants have occupied the commercial space including hair salons, coffee shops, eateries, 7-Eleven, a yoga studio, a travel agency, and a professional services firm.
location map
