Denver-based developer Nichols Partnership plans to convert a 10-story office building at the northeast corner of 12th Avenue and Lincoln Street — previously home to the Art Institute of Colorado —into a 194-unit micro-apartment community, according to a site development plan recently filed with the city.
The project, known as Art Studios, will be comprised entirely of market-rate studio apartments. Melissa Rummel, development director for Nichols Partnership, said the company is targeting attainable rents by creating smaller floor plans.
Nichols Partnership also plans to construct a new five-story apartment building atop an existing four-story parking structure that sits next to the former Art Institute building. That second phase is still in concept planning, Rummel told Denver Business Journal.