Discounted Denver Office Tower Candidate for Massive Makeover

The Luzatto Co. is planning a number of targeted renovations at The Denver Energy Center, a two-tower high-rise picked up a few months ago for $5.25 million, a sharp discount. In 2022, The Denver Business Journal reports JPMorgan Chase Commercial Mortgage Securities Trust purchased the Denver Energy Center for $88.2 million, the minimum bid at a foreclosure auction held after the previous owner failed to make mortgage payments. 

Luzatto plans to spend $150 million on the makeover. The largest changes are expected in Tower Two, at 1675 Broadway, which Luzzatto plans to convert from offices into 360 housing units with various amenities like a coffee shop, gym, theater and coworking space. Tower One, at 1625 Broadway, will remain office space, but will see upgrades to building systems and amenities. Luzzatto hopes to get help from the Downtown Development Authority, which is distributing $570 million in bonds to fund projects. 

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