Three stories of commercial space at the historic Denver Dry Goods building at California Street and the 16th Street Mall may soon become 55 new income-restricted homes.
To complete the project, developer Perry Rose LLC is asking the city for a $5.5 million loan to a roughly $65 million budget. On Wednesday, a Denver City Council committee sent the loan to a full council vote.
The project is one of the latest examples of developers turning downtown commercial buildings into homes — transforming underused business space into new homes.
Denver Dry Goods has a long history in the city.
Denver Dry Goods was built in the 1880s. It once housed a popular downtown department store, a saddlery, a tea room – and, most recently, T.J. Maxx…