Recently, our family investment partnership started looking for some additional real estate to acquire. The market seemed to be presenting good opportunities for investment. In seeking multifamily investment properties, I stumbled across a 6-unit apartment building located at 2355/2359 Lafayette Street, Denver, CO 80205. I carefully reviewed the financial statements presented, took a quick tour of the property and made an offer. After a bit of back and forth with the seller, we had the property under contract.
Though now a bit worn and a little dilapidated, it is clear that 2355 Lafayette was bursting with historical charm. I began researching everything I could about this property and performing due diligence on the acquisition. As it turns out, the property was designed in 1889 by Charles A. Lang – a very prolific Denver architect. Taken from Colorado Architects Biographical Sketch, “Lang burst onto the Denver building scene at the peak of economic activity with a fast and furious pace. He designed over 250 buildings in his brief career in Denver, including a church (St, Mark’s Parish), townhouses (Vine St.), barns, a commercial building (A.M. Ghost Building),and numerous residential dwellings. He was known as Denver’s residential architect. Per
haps most well known are the Molly Brown House (1890) and Castle Marne (1890), which show Lang’s preference for rusticated stone, turrets, arches, and a grandness of scale. His recognizable eclectic style was used not only on these large imposing mansions but also on townhouses (a few of which remain) and what he termed "moderate cost housing." Although he left Illinois before Richardsonian architecture made its mark on Chicago, it is apparent that this style-albeit somewhat tailored to his taste-had a great impact on Lang. It is difficult to pin Lang down to a definite style, for he merged many elements from different styles to suit his taste, not following convention.”
I personally had an interest in building sustainable projects. My vision for this property was starting to solidify with three very clear directions: (1) preserve/restore and honor the history of this property, (2) create a LEED for homes certified renovation project and (3) make this an exceptional place to live. In reading another bio about Charles A. Lang written by Charles O Brantigan, M.D., it turns out that “[Lang] won an award for energy efficiency of his designs 83 years after his death.”
Starting with a historical building that is already energy efficient in its design seems like a natural fit to create something very special.
The next step will be to find a way to work through the inspection issues and actually close on the property.
Though now a bit worn and a little dilapidated, it is clear that 2355 Lafayette was bursting with historical charm. I began researching everything I could about this property and performing due diligence on the acquisition. As it turns out, the property was designed in 1889 by Charles A. Lang – a very prolific Denver architect. Taken from Colorado Architects Biographical Sketch, “Lang burst onto the Denver building scene at the peak of economic activity with a fast and furious pace. He designed over 250 buildings in his brief career in Denver, including a church (St, Mark’s Parish), townhouses (Vine St.), barns, a commercial building (A.M. Ghost Building),and numerous residential dwellings. He was known as Denver’s residential architect. Per
haps most well known are the Molly Brown House (1890) and Castle Marne (1890), which show Lang’s preference for rusticated stone, turrets, arches, and a grandness of scale. His recognizable eclectic style was used not only on these large imposing mansions but also on townhouses (a few of which remain) and what he termed "moderate cost housing." Although he left Illinois before Richardsonian architecture made its mark on Chicago, it is apparent that this style-albeit somewhat tailored to his taste-had a great impact on Lang. It is difficult to pin Lang down to a definite style, for he merged many elements from different styles to suit his taste, not following convention.”I personally had an interest in building sustainable projects. My vision for this property was starting to solidify with three very clear directions: (1) preserve/restore and honor the history of this property, (2) create a LEED for homes certified renovation project and (3) make this an exceptional place to live. In reading another bio about Charles A. Lang written by Charles O Brantigan, M.D., it turns out that “[Lang] won an award for energy efficiency of his designs 83 years after his death.”
Starting with a historical building that is already energy efficient in its design seems like a natural fit to create something very special.
The next step will be to find a way to work through the inspection issues and actually close on the property.
