The 12-story University Building, a 1911 landmark that has stood empty on downtown Denver's skyline for years, is finally getting a new life. Mile High Real Estate and BMC Investments have filed permits to transform the historic structure into 120 mixed-income residential units.
This adaptive reuse project targets a critical shift in the city's core: turning vacant office towers into housing. The conversion is backed by $14.5 million in funding, including loans and tax credits from the Denver Downtown Development Authority, signaling strong public support for repurposing the 115-year-old asset.
Located at 115 14th Street (ZIP 80201), the building was originally constructed for the University of Denver before decades of office use. The new plan preserves the historic façade while reconfiguring the interior to create income-restricted apartments. This approach avoids demolition and leverages the existing footprint, a strategy increasingly common as downtown office vacancy rates climb.
The filing at the University Building is not an isolated event but part of a coordinated wave of office-to-residential conversions sweeping the city. Recently, the Denver Housing Authority compressed permit cycles to under two weeks for similar projects, while developers in Five Points and La Alma Lincoln Park are restoring mid-century blocks rather than razing them. These efforts mirror the massive transformation of the Gonzalez Apartments, where over 1,000 permits facilitated a shift to high-density housing.
Residents can expect a faster timeline than traditional developments as the city accelerates approval processes for historic conversions. As these filings move toward construction, the focus will shift to building inspections and final occupancy approvals, marking the next phase in revitalizing Denver's historic core.