1222 Glenarm Place

The lights might go down at one of Denver’s most infamous clubs. Diamond Cabaret is facing potential license revocation after state investigators accused the venue of widespread wage theft affecting over 230 dancers, bartenders, and staff.

City officials called the enforcement effort “unprecedented” as they moved to revoke the club’s license, citing what they describe as systemic exploitation and illegal deductions.

The owners have responded by suing the city, calling the action a reckless abuse of power.While the legal battle plays out, another question quietly lingers: what happens to the real estate?

The club owns a prominent piece of downtown that includes three parcels.

One is a 4,854 square feet corner lot at 515 W Colfax Ave. Another being where Diamond Cabaret sits, a 17,000 square feet building on a 21,535 square feet lot located at 1222 Glenarm Place. The third is a 9,375 square feet surface parking, 1260 Glenarm Place. Together, the parcels total nearly 0.8 acres in the heart of the city.

The site has remained under the same ownership since 1990. If the license is revoked, this could become one of downtown’s most watched properties.

This is all speculative. No decisions have been made about the license, and the site is not currently for sale.

Even so, the possibility of a major shift for a property that hasn’t changed in almost four decades is hard to ignore. Especially when you consider that the award-winning Populus Hotel rose from a similarly irregular-shaped lot just down the avenue.

If the club closes, will an apartment building rise here? A hotel? Pastie Apartments? Lapdance Lofts?

The future is unclear, though the land feels destined for a new act.