Redevelopment in Greenwood Village: A New Chapter for a Long-Vacant Parcel

(Courtesy of Matt Geiger/BusinessDen)

After sitting empty for more than two decades, the long-vacant lot at 5555 Greenwood Plaza Blvd is finally on its way to becoming a new residential community. Earlier this fall, the Greenwood Village City Council voted 8–0 to approve Century Communities’ plans for 90 single-family homes on 13 acres just south of The Landmark development — a mixed-use area featuring shops, restaurants, and two condominium towers.

Turning a Blighted Site Into a Neighborhood Asset

For years, the property had been considered one of Greenwood Village’s most visible vacant sites. Councilman Paul Wiesner described it as a “blight on the city,” reflecting local frustration after decades of stalled development. Now, plans are underway for a gated community of three- and four-story homes ranging from 2,500 to 4,500 square feet, each featuring rooftop decks, modern design, and attached garages.

Sales are expected to begin in 2027, with homes projected to list between $1.75 million and $3.5 million, attracting buyers such as retirees, executive professionals, and long-time Denver residents seeking low-maintenance living close to major employment centers.

For firms like Sustainable Design Build, which specialize in Denver custom home construction, the project exemplifies how thoughtful redevelopment can elevate local housing stock while blending new design into established neighborhoods.

A Site with a Complicated Past

The Greenwood Plaza site carries a complex legacy. Two decades ago, developer Zack Davidson envisioned it as the “European Village” — a high-density residential plan inspired by Italian architecture. That proposal included cobblestone streets, courtyard-style homes, and manicured promenades, but the 2008 housing crash halted the project. Davidson’s Landmark Metropolitan District later faced allegations of financial mismanagement, and the site was left untouched for years.

In 2016, Century Communities purchased the property from the FDIC for $11 million, reigniting discussion about what the site could become. Early redevelopment proposals were met with resistance over density concerns, but the latest design — refined through community collaboration — has received widespread support.

Collaboration and Compromise Lead to Consensus

At the most recent council meeting, no opposition was voiced. Nearby residents of The Landmark Towers expressed appreciation for the builder’s willingness to adjust plans and address neighborhood feedback. Councilwoman Anne Ingebretsen praised the project’s design balance, calling it “good, high-quality, appropriate density.”

The new community represents a compromise between urban convenience and suburban privacy, fitting Greenwood Village’s evolving identity. City officials noted that while the suburb typically discourages density above four units per acre, this project demonstrates flexibility when balanced with strong design and community input.

What It Means for Metro Denver Development

As housing demand continues to rise across Denver’s suburban corridor, redevelopment of underutilized sites like 5555 Greenwood Plaza Blvd reflects a broader regional shift toward smart infill growth. Thoughtful site planning and architectural variety — two hallmarks of Sustainable Design Build’s own whole home remodels and home additions — ensure that new projects enhance rather than disrupt established communities.

For homeowners considering whether to renovate or rebuild, this project underscores the value of design integrity, long-term planning, and collaboration between developers and neighbors. It’s a philosophy that SDB applies to every Denver-area project, whether revitalizing an existing property or creating a custom home from the ground up.