DENVER — A former Kmart building that has sat empty for several years in southeast Denver is finally coming down to make way for a new residential development.
Crews began demolition work on the former Kmart location at Monaco and Evans this week. It’s expected to take 3-4 days to complete.
The building was constructed in 1965, but the retailer closed the store in 2012. It has been collecting dust ever since.
Kmart singed a 99-year lease when it acquired the building more than 50 years ago, and was paying $400,000 yearly rent for the blighted spot.
Neighbors of the southeast Denver property and a city council member were working to putting the property to good use, but the company wasn’t willing to terminate the lease. But in 2019, that all changed.
The building was purchased by Forum Real Estate Group, a Glendale-based private real estate investment firm. The real estate company has big plans for the spot.
The 13-acre property at 2150 South Monaco Parkway will become Edera at Highline, a residential community development.
The development will include 287 apartment units spread across six three-story buildings, one acre of public open space along Monaco Parkway, and tree-lined streets and sidewalks.
The apartment buildings, designed to look like townhomes, will feature ground floor garages. Forum said the apartments will be available at market rates.
The project is currently under permit review, according to the development’s website. Construction on the Edera at Highline is scheduled to begin later this year after demolition of the former Kmart building is complete.
