Holland Partner Group Seeks Gym-to-Residential Redevelopment

A shuttered gym in a business park south of Denver has come under new ownership and is headed for new life as a multifamily development.

An affiliate of Vancouver, Washington-based Holland Partner Group acquired a vacant Colorado Athletic Club at 374 Inverness Parkway just south of the Inverness border for an undisclosed amount, the Denver Business Journal reported. Greenwood Village-based Wellbridge Club Management LLC closed the Colorado Athletic Club location in 2023 and sold it to Holland affiliate HLT APT Venture Denver Inverness Pkwy LLC.

The 10-acre site is poised to give way to eight apartment buildings rising three to four stories with a total of 325 apartments if approved. The proposed multifamily project, dubbed 380 Inverness Apartments, is slated to span 437,529 square feet. Amenities planned for the complex include a clubhouse with pool and spa, a lounge deck and a fitness center. A leasing office would be built next to John Derry Park nearby. Units would range from one- to three-bedroom floorplans with an average size of 1,000 square feet.

The Douglas County Department of Community Development approved the site plan on Feb. 10. Holland submitted its first land use application for 374 Inverness a year after the Colorado Athletic Club closed. The property has been vacant ever since.

Holland’s 380 Inverness project is the latest multifamily proposal for commercial properties in the south Denver metro area.

Earlier this month, Trammell Crow Residential submitted a concept plan for two new multifamily buildings with roughly 660 rental units at 7601 Technology Way in the Denver Technological Center neighborhood, the Business Journal reported. A nearly 200,000-square-foot office building would be torn down to make way for one of the apartment structures.

Elsewhere in Denver Tech Center, last fall, Colorado National Realty — ostensibly a U.S. Bank affiliate with an address registered at the bank’s downtown tower — floated turning 4 acres of parking lots next to its location at 8401 East Belleview Avenue into housing. That proposal calls for dividing U.S. Bank’s Denver Tech Center property into three lots, per the Business Journal. Two of the parcels would be developed for retail uses and the third would include a podium-style building with 239 residential units.

— Chris Malone Méndez