A half-block parcel in Denver's LoHi neighborhood is trading parked cars for apartments after a 0.68-acre Market Street site sold this week for $9.5 million. Greenwood Village-based homebuilder Century Communities bought the long-vacant lot from the Farber brothers' Elevation Development Group and says it will deliver roughly 116 units. The deal turns a parking-lot parcel at Mariposa into one of the neighborhood's next infill projects.
Century paid $9.5 million for the site at 3301-3333 Mariposa Street, which works out to about $322 a square foot, according to BusinessDen. BusinessDen reports the seller was Elevation Development Group, founded by Brent, Brad and Gregg Farber. The Farbers bought the site in 2019, cleared it of industrial buildings and secured city approvals for a residential project.
Approved plans and zoning
City documents and local development trackers show the proposal as a 116-unit apartment building at '33rd & Mariposa.' MMG Real Estate's Denver pipeline lists 3301 Mariposa Street with 116 prospective units, and parcel data on LoopNet provides the APN and lot details used in public searches.
Builder's timeline
Century Executive Vice President Jim Francescon confirmed the company will build the 116-unit project, saying it "will break ground this week" and is expected to "wrap up sometime in 2028," according to BusinessDen. Century, known primarily for for-sale homes but increasingly active in rentals, will handle construction and delivery of the building.
What it means for LoHi
The sale caps a busy stretch of infill activity in LoHi and nearby RiNo, where recent office deliveries have shifted developer attention toward mixed-use sites. The Steel House office project, developed by Beacon Capital Partners with Elevation Development, is one recent example, per Open Studio Architecture. Adding 116 apartments on Mariposa will boost downtown's pipeline for near-term housing deliveries.
What's next
Century plans to begin preconstruction and permitting immediately and to mobilize crews for a spring groundbreaking, so neighbors should expect construction activity on Market Street through the late 2020s. Observers will be watching for building permits and the company's sales or leasing plans as the project moves from site work to vertical construction.
