The trendy River North Art District in Denver may soon have an outlet for hydroponic produce.
The Breedlove Capital company, a firm that focuses on real estate and startups, has purchased a cement and brick building at 2401 Larimer Street, with the plan of turning into a kind of farmer’s market.
The building, with a Moderne architectural style, was built in 1938 and for years was the home of the Colorado Potato Growers Exchange. It later housed a farm supply business, before being used for office space.
Breedlove Capital purchased the structure, which measures around 6,600 square feet, for $3.3 million.
If all goes as planned, a hydroponic produce market will be established at the site, which will also include a food preparation service.
Cucumbers, herbs, leafy greens, and tomatoes are among the products that can be cultured hydroponically, a process where goods are grown in water inside a building.
The hydroponic market is booming across the country. According to statistics, the industry, seeing $1.3 billion in revenue, is expected to grow at an annual rate of around 22% for the next several years.
The renovation of the Larimer Street building is expected to get underway in the months to come with the Denver-based Oz Architecture serving project designer. The market will most likely open sometime early next year.
By Garry Boulard
