The real estate development firm BMC Investments, based in Denver, has been chosen by Invesco, one of the nation's leading investment advisors, along with Los Angeles-based Prism Places, for a transformative project. This redevelopment initiative aims to bring significant multifamily and retail spaces to the former Sears site, providing a new lease on life for the vacant property.
With Invesco's selection, BMC Investments and Prism Places will collaborate to revitalize the site, turning it into a vibrant housing-anchored project. The plan includes constructing 430 apartments, as well as restaurants and retail spaces, with an estimated project cost ranging from $400 to $500 million.
BMC Investments, in partnership with its capital partners, will retain ownership of the 14 properties within the portfolio. This strategic move allows BMC Investments to further strengthen its presence in the real estate market while leveraging its expertise in property management and development.