LoDo’s former home of stand-up comedy and karaoke, El Charrito, shut down in December after a half century in businesses. Soon, its former building will be redeveloped by a partnership involving Kenneth Monfort, the son of Colorado Rockies co-owner Charlie Monfort.
The younger Monfort, director of development for Monfort Companies, partnered with Lower Downtown-based development company Magnetic Capital earlier this week to shell out $2.9 million for the building that once housed the beloved bar and its Comedy RoomRoom.
The plan for the 11,600-square-foot space at 2100 Larimer St., according to a release announcing its sale, is to convert it into a mix of office and updated retail space. The two companies have vowed to preserve the building’s historic character, though they are considering adding a third and fourth floor during redevelopment work.
“Denver is ready for a world-class ballpark district, but it doesn’t happen overnight,” Monfort said in the release. “We’re hopeful that this project will kickstart additional investment in an area that’s well-positioned to engage and draw residents and visitors of all ages, day and night, 365 days a year.”
Monfort Companies worked with different partners, Jason Marcotte and Matt Runyon of Summit Capital Ventures Group, to buy the three locations of Lodo’s Bar & Grill in December. In that case, Kenneth Monfort said he aimed to build on the legacy Lodo’s has built in the ballpark neighborhood, though he hinted changes would be coming. On Thursday, Lodo’s ballpark location, 1946 Market St., opened up a pop-up bar in the space next door to its main bar. The pop-up is called Neon Baby, a sister concept to the closed-for-renovations RiNo disco and cocktail bar Yeah Baby.
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The Rockies franchise, lead by president and CEO Dick Monfort, Charlie’s brother, is developing a massive mixed-use project just south of Coors Field called McGregor Square. But Dick Monfort said the team is not invested in Monfort Companies’ projects near the stadium.
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Magnetic Capital in buying into Kenneth Monfort’s vision for an active, economically diverse ballpark district in LoDo, both literally and figuratively.
“By creating new opportunities for retail and office space at 2100 Larimer St., we’re confident we can further define the character and influence the future of one of Denver’s most important entertainment districts,” Magnetic’s managing partner Daniel Huml said in a news release.
The partners expect redevelopment of the former El Charritto building to be completed by late 2020. Chord Design Studio and 4240 Architecture are handling the design work.
