The development firms that own the former Greyhound block in downtown Denver have made one of the largest requests of the Downtown Development Authority.

Chicago-based Golub & Co. and New York-based Rockefeller Group requested $64.5 million in March to help construct a 36-story tower with apartments and hotel rooms on the block at 1055 19th St.

In their application to the DDA, which was obtained by BusinessDen after being partially redacted by the city, the two firms said the money is “needed to bridge the gap between the current cost to build a high-rise tower and the minimum yield expectations currently held in the private investment space.”

“Investment capital for ground-up development seeks a specific yield on cost in order to approve new development projects,” the companies wrote.

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