Over the next several years, a Capitol Hill landmark will be renovated to become the new home of the Denver Foundation, which closed a deal to buy the Casa Grande building at 1009 Grant St., according to a news release.
The foundation will remain in its current location at 55 Madison St. in Cherry Creek until 2020, when it plans to move to Cap Hill. This will allow the foundation to finnish out its current lease and renovate Casa Grande.
The 23,000-square-foot building sold for $4.7 million last month. Constructed in 1929, the building is included in the Grant Historic District. Any structural changes will need approval from the Landmark Preservation Commission.
Denver Foundation will work with the city’s Landmark office, the nonprofit Historic Denver and Capitol Hill United Neighborhoods to plan the renovations.
Casa Grande is currently being used for office space.
Founded in 1925, the Denver Foundation gives grants on an annual basis to serve the growing needs of the Denver metro area. In 2017, the Denver Foundation awarded $66 million in grants throughout the state. The foundation also helps individuals as well as businesses to establish charitable goals and strategies. The Denver Foundation can also help manage charitable funds so that individuals or businesses are not burdened with administrative costs. Learn more at www.denverfoundation.org.
The building purchase is a first for the organization, which has been renting its space in Cherry Creek for more than 10 years. Owning the building will help give the foundation a stable future, said Virginia Bayless, the foundation’s interim president and CEO, in the news release.
“Casa Grande not only meets our location and space goals, the relocation will also generate a significant decrease in annual occupancy expenses,” she said. “Our ultimate vision is to invest more charitable dollars from our permanent endowment—The Fund for Denver—in local communities.”
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