Developer Proposes Riverfront-Style Apartments in Southmoor Area

Developer Proposes Riverfront-Style Apartments in Place of Regal Continental

A prominent local homebuilder is aiming to transform a long-vacant movie theater site off Interstate 25 into a modern, resident-focused community. Here’s what you need to know:

From Silver Screen to Studio Apartments

Location: 3635 S. Monaco Street Parkway, South Denver

Site Size: 6.9 acres

Current Owner: Realty Income Corp. (acquired in 2014 for $14.8 million)

Former Use: Regal Continental theater (opened in the 1960s; closed April 2023 amid Cineworld bankruptcy)

Century Living—Century Communities’ multifamily arm based in Greenwood Village—filed plans in April 2024 to raze the old theater and replace it with two four-story apartment buildings.

The Project at a Glance

Buildings: Two four-story podium structures

Total Units: 417 apartments (studios through three-bedrooms)

Parking: 439 covered spaces (central garages wrapped by residential floors)

Footprint: 467,000 SF of buildable area, designed by Venture Architecture

Land Purchase Status: Under contract; no closing recorded yet

Why This Site Matters

Infill Redevelopment: Large single-use parcels in south Denver are scarce. Converting a shuttered theater into housing addresses both supply constraints and underutilized land.

Transit & Connectivity: Just off I-25 and minutes from the Cherry Creek Trail, the site offers commuters swift highway access and a growing network of bike and pedestrian routes.

Market Demand: South Denver’s rental market—particularly for newer, well-appointed projects—remains tight, with sub-5 percent vacancy rates reported in 2024.

Building for Today’s Renters

Century’s proposal leverages a “wrapped” parking podium, placing garages at each building’s core and framing them with apartments on all sides. This design:

Optimizes Land Use by stacking parking vertically

Enhances Streetscape with continuous building façades and dedicated ground-floor amenity spaces

Offers Variety in unit mix, from efficient studios to family-sized three-bedrooms

What’s Next

Land Acquisition: Century Living is finalizing its purchase from Realty Income Corp.

City Review: Plans have entered Denver’s Development Services queue; public hearings are anticipated in summer 2025.

Community Input: Neighbors and stakeholders will have an opportunity to weigh in on traffic mitigation, landscaping, and building massing.

Bottom Line: Repurposing the Regal Continental site could set a new standard for infill multifamily development in south Denver—balancing density, design, and connectivity. Keep an eye on Monaco Street Parkway as public review unfolds and Century Living moves from demolition permits toward shovels in the ground.