The owners of the former Channel 7 building adjusted plans to construct an 11-story residential complex along Speer Boulevard, according to a new site development plan filed with the city in November.

It would be nearly twice the number of stories of the current, eight-sided building standing at 123 E. Speer Blvd,. that was approved for demolition in 2021. But it’s smaller than the 12-story plan originally floated by the developers. In July, Channel 7 (KMGH) moved to its new location in Denver’s River North (RiNo) neighborhood, 2323 Delgany St.

It’s the sixth plan submitted for a new tower on the lot by new property owners, New York-based developer Property Markets Group (PMG) and Greybrook Realty Partners, a Toronto-based private equity and asset management firm.

After the vacant building was recently vandalized on the highly-visible top floors and damaged by flooding, break-ins and squatters, PMG officials said they’re keeping up security.

Sure enough, the recent vandalism was cleared away as early as Monday, Dec. 16.

The new owners bought the site for $35 million. 

The brown, brutalist architecture-styled building, developed in 1969, will be demolished next year.

“PMG submitted Version 6 of the site development plan for the multifamily project to the City in November 2024,” a PMG spokesperson said via email last month. “We will be remediating the vandalism in coming days. Demolition of the existing building is anticipated for spring 2025.

“We are committed to maintaining a secure site and being considerate neighbors in the community.”

Plans for the multifamily building dubbed “Society Denver” include 481 residential units, a three-level parking garage, co-working offices and 9,600-square-feet of retail and restaurant space.

New plans for a building filed earlier in 2024 for the lot are slightly scaled back from earlier plans proposing two buildings including a 12-story tower and a 14-story tower for a total of nearly 600 units, which would have required a height limit exemption.

The latest proposed tower would be about 130 feet tall, below the 150-ft maximum and 12-story limit set by the Denver zoning view plane protecting Rocky Mountain views from Cheesman Park and the Botanical Gardens.

The development plans show mechanical equipment on the top floor where a 12th-floor would be.

Society Denver would have 331 parking spots designated for residents and 12 spots meant for ground floor shops.

Society Denver would primarily face Speer Boulevard on its trapezoid-shaped lot surrounded by 7th and Lincoln Avenues and Sherman Street.

Site plans show the top seven-floors would be reserved for residents and two floors on the second and third floor will have co-working office spaces. The fourth floor would have a roof deck and residential amenities.

A new residential complex is currently scheduled to be completed in 2027, according to PMG’s website.

Denver Gazette City Editor Dennis Huspeni contributed to this story.