A developer has begun demolishing the Colonial Court apartment complex near the Country Club Plaza and plans to redevelop the site with a luxury apartment project.
Price Brothers plans to raze the 17 brick buildings in the complex at the southwest corner of 46th and Jefferson streets.
Scott Buescher, vice president of development at Price Brothers, said Wednesday that details on the new project probably won’t be ready until this fall, but he did say it is likely to be a multistory, upscale apartment project.
Six years ago, a Denver developer received approval for a $123 million project on the site that included a nine-story senior apartment building and a 12-story hotel. The 46 Summit project failed to move forward, but the high-rise zoning remains intact for the Colonial Court property.
The aging brick apartments were built in 1946 and were owned for many years by Sherrill Mulhern. The buildings were bought last year by Price Development, an affiliate of Price Brothers.
Buescher said the former residents have all been relocated.
Price Development already is developing a 177-unit luxury apartment project, 46 Penn, nearby at 46th Street and Pennsylvania Avenue. Construction of that $30 million project is underway.
Price Brothers recently bought the nearby Neptune Apartments at 333 W. 46th Terrace and renovated that 96-unit building.