East West Partners and
Starwood Capital Group plan to develop a $190 million office building in the Union Station neighborhood.
Called 16 Chestnut, the building will front both 16th and 17th streets.
DaVita Healthcare Partners, a provider of kidney-care services, will be the anchor tenant in the 265,000-square-foot building.
"DaVita believed in our vision for the Union Station neighborhood long before it came to fruition," says Chris Frampton, managing partner at East West Partners. "We are honored that they are entrusting us in making a second home for their teammates."
Groundbreaking for the building is scheduled for next July, with DaVita targeting a move-in date of August 2018. Remaining space available for lease will come to market in January 2016, and the entire building is slated for completion in October 2018.
Designed by
Gensler, 16 Chestnut is will seek LEED Platinum certification upon completion. The building will make extensive use of glass, allowing for striking views of the city and Rocky Mountains from each floor. Its location adjacent to the southbound light-rail line and two blocks from the northbound line to Denver International Airport gives it easy access to transit.
"We are excited about the opportunity to invest in Denver and reaffirm our commitment to East West Partners' vision for the Union Station neighborhood," says Dan Schwaegler, senior vice president in the asset management group at Starwood. "This neighborhood has become the destination of choice for Fortune 500 companies in Denver."
Contact Confluence Denver Development News Editor Margaret Jackson with tips and leads for future stories at margaret@confluence-denver.com.
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