The vacant corner where Denver7 once broadcast to the city is officially up for grabs. Miami-based Property Markets Group (PMG) has begun marketing the 2.3-acre parcel at Speer Boulevard and Lincoln Street, saying it no longer plans to build there itself and is instead looking for partners or an outright buyer. With demolition finished and entitlements already in place, the block at 123 Speer Blvd. is one of the rare shovel-ready infill sites sitting just outside downtown.
Developer Puts Entitlements and Demolition on the Table
In an email to BusinessDen, PMG said it is "exploring options for new partners" now that the heavy lifting on paperwork and demolition is done. PMG bought the block in 2021 for about $35 million and took down the old station building last year, the outlet reported. For any incoming buyer, a cleared site plus entitlements can significantly shorten the timeline from closing to construction.
What Was Planned for the Block
Early coverage sketched out a Society Living concept for the site: roughly a 12-story, 600-unit mixed-use project with ground-floor retail and apartments above. The property is zoned for mid-rise development and was acquired by PMG and Greybrook in 2021, according to Mile High CRE. Those entitlements and the mixed-use setup are now part of the sales pitch for anyone looking to step into PMG’s place.
Neighbors, Trespass and the City’s Role
Since Denver7 moved its operations to RiNo, the now-empty lot has become a magnet for the kind of attention no neighborhood wants. Vandalism and trespassing have been recurring issues, and Denver police recently arrested three people at the address, with frequent calls for service logged at the site, Denver7 reported.
The City and County of Denver’s Neglected and Derelict Buildings program outlines fines and remediation steps for properties that are unsafe or regularly out of compliance, and CPD inspectors recently boarded the structure to reduce break-ins. Between neighbor complaints and municipal oversight, any new owner will inherit not just a high-profile corner, but a set of expectations about how quickly it gets cleaned up and activated.
Why the Parcel Could Still Move Fast
PMG says it is open to a range of partnership structures to move the project forward, while the firm continues to advance a Waldorf Astoria-branded condominium in Cherry Creek that it expects to finish in 2028, BusinessDen reported. For whichever buyer steps up, the upside is straightforward: existing entitlements, a cleared site and a prime location just off downtown can compress the development schedule.
That does not mean it will be simple. The block’s history, including a past landmark fight, community pushback and the city’s derelict-property rules, suggests that any successful bidder will need more than a glossy rendering. A realistic plan for outreach, security and code compliance will likely be as important as the building design.
For now, brokers are expected to shop the block while PMG tests interest in a sale or joint-venture deal in the coming weeks. The only real question is which developer and which lender decide this former TV corner is ready for its next close-up as new housing.
