DENVER (CBS4) – After abruptly closing in late 2018, a developer has big plans for the old Art Institute building at 1200 Lincoln Street. The Nichols Partnership has purchased the building and plans on converting it into roughly 130 micro-units.
“It’s just a way to really economically use space. We had to rethink all of the things you’re doing on the interior,” said Randy Nichols.READ MORE: Rogel Aguilera-Mederos Trial: Jury Selection Begins For 2019 Deadly I-70 Semi Crash
The units will range from 300 to 425 square feet. This isn’t the first time the Nichols Partnership has taken on a project like this. The company is responsible for turning the old hotel next to Mile High Stadium into micro-units, now called Turntable Studios.
Nichols says micro-units are the perfect option for someone who wants to live in the city, but can’t afford traditional apartment complexes.READ MORE: Touchdowns Meet Touchless: Mile High Announces New Tech
“We shoot for several hundred dollars below the cheapest conventional apartment. So if a studio apartment in a bigger building is $1500-$1700, we want to be at $1100-$1200,” Nichols told CBS4’s Dominic Garcia.
The company is currently in the design phase of the project, and the renovation should take a year and a half to complete.MORE NEWS: Suspect With Gun Shoots At Eaton Police Officers Early Friday Morning
“It’s a way to make an affordable place to stay for people who are priced out of this very expensive apartment market,” he told CBS4’s Dominic Garcia.