Downtown Denver Tower in Limbo
A 17-story office tower in downtown Denver, known as Columbine Place, has defaulted on its loan, but the lender is unwilling to take ownership.
The building, located at 216 16th St., is facing increasing vacancy and deteriorating condition, making it an unattractive asset for the lender.
The situation reflects Columbine Place's increasing vacancy and deteriorating condition, but also the ground beneath it.
The decision by the lender means that Columbine Place will remain in the hands of its longtime owner, at least for the time being.
The future of the building, however, will be determined by individuals in Honolulu, Hawaii.
Author's summary: Lender rejects downtown Denver tower due to its poor condition.