Urban Ventures and White Construction Group have started a redevelopment project in Denver, Colorado, which will transform an abandoned neighbourhood into a vibrant, mixed-use community.
The project, named 'Steam on the Platte', will span 3.2 acres across the city's abandoned, industrial corridor of the Platte River, near the I-25 viaduct at 14th Avenue and Zuni Street.
Construction works for the project are expected to start in the final quarter this year, with the aim to complete the initial phase by the third quarter of 2016.
The project will benefit from the downtown location, a light rail stop, bike path, sports arena access and riverside setting, which all increase its desirability for businesses and residents.
Denver Office of Economic Development executive director and redevelopment champion Paul Washington said: "The idea of new life in this industrial corridor is transformational, both culturally and economically.
"Steam on the Platte is a catalyst for both the redevelopment of Sun Valley and the Platte River, which are high priorities of Mayor Hancock."
The project will include renovating the neglected 65,000 ft² undeveloped, exposed, brick-and-timber warehouse in the city, transforming it into a new, creative office space.
Urban Ventures and White Construction Group will also develop a restaurant in an existing building beside the river, which features a bowstring roof. The restaurant is expected to be completed by late 2016 or early 2017.
Additional commercial office and residential space will be developed in future phases of the project.
Urban Ventures founder and president Susan Powers said: "Steam on the Platte is the perfect blend of environment and industry, inspired by the spirit and energy of Denver."
The partnership, formed in 2014, has selected tres birds workshop as the architect for the warehouse.
White Construction Group will serve as the contractor for the project, which will have SAP technology-consulting firm NIMBL as the anchor tenant for the renovated warehouse.