Harbor Associates' $22.4 million overhaul of the 9‑storey Vault at 821 17th Street has left the 107,630‑sq‑ft landmark empty, even as the renovation wrapped in 2026.
The building, a 1907 Mission‑style former bank, was purchased for $17.6 million in 2017 and rebranded The Vault after the costly facelift. Its restored lobby, stained‑glass skylights, and hand‑painted beams highlight the effort to preserve the Denver Landmark, honored in 1977.
Despite the investment, tenants have been hard to secure. WeWork leased roughly 40,000 sq‑ft in 2018 but vacated in 2021 amid the pandemic’s shift to remote work. The downtown office market now sits at a 38 % vacancy rate, according to the Denver Gazette.
Urban planners view the empty tower as both a challenge and an opportunity. Bill Mosher, former chief project officer for the Denver Downtown Development Authority, said historic buildings “have real possibilities” for adaptive reuse, citing their unique lobbies as selling points.
Architect‑engineer Bradley L. Zieg warned that converting the Vault into residential units would be a “real stretch” due to incompatible mechanical systems and plumbing infrastructure. He noted that heating, cooling, and ventilation would need extensive redesign.
JLL is now marketing the property for sale, offering developers a blank slate for office, residential, or hospitality conversions. The listing price, though not disclosed, is expected to reflect the building’s landmark status and prime downtown location.
Potential buyers are urged to act quickly as downtown Denver looks for solutions to its excess office space.