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DE
Local developer surrenders partially complete LoHi office to lender
['Thomas Gounley']
BusinessDen
A partially completed five-story office building in Denver’s LoHi neighborhood is now in the hands of a lender.
Denver-based Generation Development gave the 2926 Umatilla St. building to Parkview Financial earlier this month rather than go through the foreclosure process, according to public records.
Generation, which primarily develops condominiums, broke ground on the project on a 6,800-square-foot lot in early 2022 and initially expected to complete it in a year.
Parkview lent Generation $8.7 million in 2021, which was supposed to be paid off by March 2023.
When that date came and went, Parkview initiated the foreclosure process in August 2024.