![\"Denver's](\"https:\/\/static.toiimg.com\/thumb\/msid-134381767,imgsize-121136,width-400,height-225,resizemode-4\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fisher-photos-jll-investor-center.jpg\" "\\"The")
<\/div>\n<\/div>\n<\/div>\nDenver\u2019s historic bank building at 821 17th Street remains completely vacant despite a $22.4 million renovation after its owner bought the property for $17.6 million in 2017. The nine-storey building, now known as The Vault, has 107,630 square feet of office and retail space in the heart of downtown Denver\u2019s former financial district.According to The Denver Gazette, the building was originally constructed in 1907 and was later redesigned by architects Fisher & Fisher. It was designated a Denver Landmark in 1977. The property was one of the financial buildings that once formed the ‘Wall Street of the Rockies’, when the area around 17th, Champa and Stout streets was a major centre of Denver\u2019s commercial activity.Harbor Associates, based in Seal Beach, California, bought the building in 2017. The owner later invested more than $22.4 million in improvements, including a new lobby, restoration of the first and second floors, exterior facade work and upgrades to the building\u2019s mechanical systems. JLL is now presenting the property for sale as an opportunity for office use, adaptive reuse or conversion into residential or hospitality space.Finding tenants has proved difficult, however. WeWork leased about 40,000 square feet of the building in 2018 but left in 2021 as the pandemic changed office-working patterns.<\/p>\n The Vault\u2019s current situation reflects a much wider change in Upper Downtown Denver. Office vacancies across downtown have remained high, although they have dipped slightly to around 38%, according to The Denver Gazette. Some newer office properties have also been sold at heavily reduced prices, with buyers considering residential conversions as one possible way to reuse the space.The area around The Vault once went through another major transformation. Downtown Denver\u2019s historic commercial districts had struggled during the 1960s, when older buildings deteriorated and businesses moved away. By the 1980s and 1990s, however, parts of downtown were becoming active again as Denver developed into a sports and entertainment centre.The former bank building itself became part of that revival. Its large basement vault became the centrepiece of the Broker Restaurant, which opened in 1972 and remained there until it closed permanently in 2017. In 1978, the building also became home to Women\u2019s Bank, which was widely recognised for its focus on women-owned businesses and lending to women.<\/p>\n The building also has a two-storey entrance with a 23-foot ceiling<\/p>\n<\/div>\n<\/div>\n <\/p>\n JLL\u2019s property listing describes The Vault as a ‘fully repositioned’ 107,630-square-foot office and retail landmark. It says eight of the building\u2019s nine floors have been renovated and are ready for occupation, with furnished office suites.The listing says the property is being offered without existing leases. That gives a potential buyer the option to continue with office use or use it for residential or hospitality conversion.The building also has a two-storey entrance with a 23-foot ceiling. JLL describes the atrium as a major feature of the property. The listing also highlights restored historic details, including stained-glass skylights, hand-painted ceiling beams and a sculpted mezzanine frieze.However, The Denver Gazette also reported that a view through the locked doors of the main floor showed areas that appeared to need additional finish work.<\/p>\n The possibility of converting The Vault into residential space is being considered as downtown Denver looks for ways to reduce its large amount of unused office space.Bill Mosher, a former chief project officer for the Denver Downtown Development Authority, said historic buildings can have advantages when they are converted.\u201cGenerally, historic buildings have real possibilities,\u201d Mosher told The Denver Gazette. \u201cThey have lobbies that are interesting spaces.\u201dThe Vault has an L-shaped design, with the two wings measuring about 50 feet wide. That layout could provide window access and floor plans that may work for apartments, according to the report. The building is also much smaller in scale than some newer downtown office towers.However, architect-engineer Bradley L. Zieg said converting an office building into homes is not simple because the two types of buildings are designed differently.\u201cMost buildings of any kind of stature were designed and built to a specific use,\u201d Zieg told The Denver Gazette. \u201cConverting offices into residential uses is a real stretch. Residential architecture is fundamentally different than whatever else you would do,\u201d he said.Zieg also pointed to problems involving heating, cooling, ventilation and plumbing. \u201cEven if you can solve the space-planning problem, now you\u2019ve got all the plumbing. You\u2019ve got all the provided heat and cooling. It\u2019s a nightmare.\u201d<\/p>\n Eight of the building\u2019s nine floors have been renovated and are ready for occupation<\/p>\n<\/div>\n<\/div>\n <\/p>\n The challenge for The Vault is that some newer downtown properties have changed hands at much lower prices. Former Los Angeles mayoral candidate Asher Luzzatto has bought four buildings covering a combined 1.75 million square feet.Those purchases included the Denver Energy Center, which was reportedly bought for $5.25 million after having sold for $176 million a decade earlier.Mosher said the low purchase prices make such conversions easier to consider. \u201cThe reason Luzzatto is doing those is that he bought them for less than 10 bucks a foot,\u201d Mosher said. \u201cIt\u2019s hard to do that with $29 million sunk into building.\u201d<\/p>\n Greg Paugh, vice president and broker at Stream Realty Partners, said The Vault reflects the wider uncertainty facing downtown Denver.\u201cFor several institutional owners that have been trying to hold strong, they\u2019ve decided it\u2019s time to cut bait and for the few playing the long game, betting on Denver\u2019s recovery, it\u2019s another opportunity to capitalise on another heavily discounted sale,\u201d Paugh said.Paugh said demand may be shifting from LoDo towards areas farther east of Larimer Street. He also said some tenants were moving from Cherry Creek and the Denver Tech Center.\u201cThe Vault sits firmly in the CBD, and this may help downtown\u2019s perception if it truly can be revitalised,\u201d Paugh said.He added that he did not expect the historic building to sell at the single-digit prices seen for some newer towers. But he said \u201cit will not be in the first wave of downtown comebacks.\u201d<\/div>\n The building was originally constructed in 1907 and was later redesigned by architects Fisher & Fisher (Photos: JLL Investor Center) Denver\u2019s historic bank building at 821 17th Street remains completely vacant despite a $22.4 million renovation after its owner bought the property for $17.6 million in 2017. The nine-storey building, now known as The Vault, […]<\/p>\n","protected":false},"author":1,"featured_media":26811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-26810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-31"],"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fi-150x150.avif","medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fi-300x169.avif","medium_large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fi.avif","large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fi.avif","1536x1536":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fi.avif","2048x2048":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fi.avif","blogsy-small":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fi.avif","blogsy-small-tall":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fi.avif","blogsy-small-square":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fi.avif","blogsy-small-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fi.avif","blogsy-medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fi.avif","blogsy-medium-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fi.avif","blogsy-large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fi.avif","blogsy-wide":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fi.avif"},"magazineBlocksPostAuthor":{"name":"admin","avatar":"https:\/\/secure.gravatar.com\/avatar\/8709732a479614e7a8aa24d3eb1b239f30dc6d90c61464ed495001e7a469d856?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"0","magazineBlocksPostExcerpt":"The building was originally constructed in 1907 and was later redesigned by architects Fisher & Fisher (Photos: JLL Investor Center) Denver\u2019s historic bank building at 821 17th Street remains completely vacant despite a $22.4 million renovation after its owner bought the property for $17.6 million in 2017. The nine-storey building, now known as The Vault, […]","magazineBlocksPostCategories":["\u0b26\u0b47\u0b36 \u0b2c\u0b3f\u0b26\u0b47\u0b36"],"magazineBlocksPostViewCount":1,"magazineBlocksPostReadTime":6,"magazine_blocks_featured_image_url":{"full":["https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fi.avif",400,225,false],"medium":["https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fi-300x169.avif",300,169,true],"thumbnail":["https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/the-building-was-originally-constructed-in-1907-and-was-later-redesigned-by-architects-fisher-amp-fi-150x150.avif",150,150,true]},"magazine_blocks_author":{"display_name":"admin","author_link":"https:\/\/koshalsambada.in\/author\/admin"},"magazine_blocks_comment":0,"magazine_blocks_author_image":"https:\/\/secure.gravatar.com\/avatar\/8709732a479614e7a8aa24d3eb1b239f30dc6d90c61464ed495001e7a469d856?s=96&d=mm&r=g","magazine_blocks_category":"\u0b26\u0b47\u0b36 \u0b2c\u0b3f\u0b26\u0b47\u0b36<\/a>","_links":{"self":[{"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/posts\/26810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26810"}],"version-history":[{"count":0,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/posts\/26810\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/media\/26811"}],"wp:attachment":[{"href":"https:\/\/koshalsambada.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}A historic building <\/h2>\n<\/p>\n
![\"The](\"https:\/\/static.toiimg.com\/photo\/imgsize-187966,msid-134381826\/the-building-also-has-a-two-storey-entrance-with-a-23-foot-ceiling.jpg\" "\\"The")
<\/p>\nThe $22.4 million renovation<\/h2>\n<\/p>\n
Could the bank become homes?<\/h2>\n<\/p>\n
![\"Eight](\"https:\/\/static.toiimg.com\/photo\/imgsize-98198,msid-134381919\/eight-of-the-buildings-nine-floors-have-been-renovated-and-are-ready-for-occupationbr.jpg\" "\\"Eight")
<\/p>\nNewer buildings sold at steep discounts<\/h2>\n<\/p>\n
Downtown’s vacancy challenge<\/h2>\n<\/p>\n
\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"