Narrow triangular block in RiNo sells for $1.1 million

Money

There is currently one house on the site acquired by the nonprofit Urban Land Conservancy. (Photo: Thomas Gounley, BusinessDen)

DENVER — A narrow triangular block off Brighton Boulevard has a new owner.

Chestnut Lofts LLC and 3501 Chestnut Land LLC paid $1.13 million last week across two deals for 3501 and 3563 Chestnut Place, according to public records. FirstBank provided financing.

Both purchasing entities are affiliated with the Urban Land Conservancy, a nonprofit involved in the development of so-called affordable housing. ULC didn’t respond to a request for comment.

The two parcels — which add up to 7,010 square feet, or 0.16 acres — make up a narrow triangular block formed by Chestnut Place, Arkins Court and 36th Avenue. There is currently one house on the site, which is kitty-corner from Ironton Distillery and across Chestnut Place from the new Number 38 beer hall.

The site is zoned for up to five stories, although it’s within a zoning overlay district that allows developers to build higher than that if certain conditions are met.

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