Vancouver-based developer Amacon just tightened its grip on a key slice of downtown Denver, quietly paying $10.6 million last week for the parking lot next to its Upton Residences project. The buy gives the company control of an adjacent site that could eventually host a second two-tower condominium complex. The 0.64-acre purchase folds the remaining development parcels behind Upton into Amacon’s holdings just as the first towers near delivery later this year. Company executives say planning for a second project is underway, but they have not announced a timeline.
What Amacon Bought
Public records show Amacon paid $10.6 million for the 0.64-acre lot at 1925 N. Broadway - about $378 a square foot - and bought the parcel from the Patten‑Davis Foundation, which had paid $2.5 million for it in 2004, as reported by BusinessDen. Combined with the 1800 Welton parcel Amacon acquired in late 2022, the deal hands the developer full control of the block immediately behind Upton Residences and clears the way for design work if the firm chooses to move forward.
Where It Fits
Amacon has been building the 461-unit Upton Residences at 525 18th St. since 2022, a two‑tower complex with 39‑ and 32‑story towers joined by a shared podium, according to Amacon. The Upton project has also faced scrutiny and some delays after a dispute with a concrete subcontractor, local reporting shows; Denverite detailed the lawsuit and a temporary work stoppage that followed.
What Comes Next
Amacon vice president Stepan Vdovine told reporters the company is “confident in the future of Denver” and that it continues to see “strong long‑term demand for thoughtfully designed condominium communities,” but that there is no specific timeline for a second project, according to BusinessDen. With both parcels now under Amacon’s control, the company can proceed with more detailed planning if and when market conditions and city approvals line up.
