Art Institute Building Being Turned Into Residential Micro-Units

Art Institute Building Being Turned Into Residential Micro-Units


THE ART INSTITUTE OF COLORADO CLOSED ITS DOORS ALMOST A YEAR AGO. SINCE THEN, THE BUILDING ON 12th AND LINCOLN HAS SAT EMPTY, BUT IT WON’T BE VACANT MUCH LONGER, A DEVELOPER WANTS TO TRANSFORM THAT SPACE INTO APARTMENTS. DOMINIC GARCIA JOINS US FROM THERE TONIGHT, AND THESE WILL NOT BE TYPICAL RENTALS. Reporter: NO, WE ARE STARTING TO SEE MORE AND MORE OF THIS ACROSS THE COUNTRY. THESE WILL BE MICRO UNITS, SMALLER AND CHEAPER THAN WHAT MOST PEOPLE ARE USED TO. WE GOT TO GO LOOK INSIDE, THE SCHOOL CLOSED SO ABRUPTLY LAST YEAR THERE ARE STILL ART EQUIPMENT AND PROJECTS ALL OVER THE PLACE. IT STILL HAS EVERYTHING YOU WOULD EXPECT TO FIND IN AN ART SCHOOL, EXCEPT FOR THE STUDENTS. IT’S A LITTLE CREEPY. [ LAUGHTER ] YOU ARE JUST, IT’S LIKE THEY JUST TURNED OFF THE LIGHTS AND WALKED OUT. Reporter: THAT’S BASICALLY WHAT HAPPENED WHEN THE ART INSTITUTE FOLDED. RANDY NICHOLS COMPANY, THE NICHOLS PARTNERSHIP, IS THE NEW OWNER, AND THEY PLAN TO CONVERT THE BUILDING INTO 1:30 MICRO UNITS. IT’S A WAY TO ECONOMICALLY USE SPACE. WE HAD TO RETHINK ALL OF THE THINGS YOU’RE DOING ON THE INTERIOR, Reporter: THE UNITS WILL RANGE FROM 300 TO 450 SQUARE FEET. THIS ISN’T THE 1st TIME NICHOLAS HAS DONE THIS. THEY WERE THE GROUP THAT TRANSFORMED THE OLD HOTEL NEXT TO MILE HIGH INTO TURNTABLE STUDIO. NICHOLS SAYS IN A PLACE LIKE DENVER, MICRO UNITS ARE QUICKLY BECOMING A GO TO OPTION FOR PEOPLE WHO WANT TO LIVE IN THE CITY, BUT CAN’T AFFORD A TRADITIONAL APARTMENT. WE SHOOT FOR SEVERAL HUNDRED DOLLARS BELOW THE CHEAPEST CONVENTIONAL APARTMENT. IF A STUDIO APARTMENT IN AN BIG APARTMENT BUILDING IS $15-$1700 PER MONTH, WE WANT TO BE AT 11 OR 1200. Reporter: HE HASN’T DECIDED YET BUT THIS PROJECT WILL HAVE A THEME. A.B. THIS ONE WILL HAVE TO DO WITH ART. WE WILL TAKE SOME OF THE THINGS THAT WERE LEFT BEHIND HERE, AND TRY TO INCORPORATE

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