A local developer wants to replace an old movie theater off Interstate 25 in south Denver with a new apartment complex.
The plans were submitted by Century Living, the multifamily development arm of Greenwood Village-based Century Communities, on Friday. The proposal calls for the demolition of the former Regal Continental theater at 3635 S. Monaco St. Parkway and for two four-story apartment buildings to be built on the 6.9-acre site in its place.
Century Communities was unable to comment by press time Monday.
The development would place a parking garage at the center of each apartment building, with the units themselves being constructed around it. A total of 439 parking spaces and 417 apartments, ranging from studios to three-bedrooms, would be built.
Venture Architecture designed the 467,000-square-foot project, per the plans.
Century Communities does not yet own the land. The current property owner is Realty Income Corp., a real estate investment firm. It purchased the site in 2014 for $14.8 million. The Regal Continental theater was in operation then, having first opened in the 1960s.
It closed in April of last year, one of 39 Regal Cinemas shuttered across the U.S. as its parent company, Cineworld, went bankrupt.
This story was reported by our partner BusinessDen.
