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Landmark developer kills himself

Zack Davidson, 45, the disgraced developer of the ritzy Landmark condo tower who was facing 20 felony counts for theft, forgery and embezzlement of property, has killed himself in Florida, according to people who knew him.

“Zack is dead,” said one person who  knew him. The person learned on Tuesday evening that Davidson had hanged himself in woods in Hernando County, north of Tampa. A sheriff deputy in Hernando County declined to comment. A message left with the detective on the case on Friday was not returned Wednesday afternoon.

Calls to the Arapahoe County District Attorney’s office, the judge assigned to the Davidson’s case, the Arapahoe County Sheriff’s Department and the Greenwood Village Police Chief were not returned today. However, the Denver Post this evening reported that the Arapahoe County District Attorney’s believed that Davidson’s body had been found in Florida.

“He was a tormented soul,” one person said about the developer of the Landmark luxury condominium project in Greenwood Village, which ended up in a high-profile bankruptcy. Davidson, himself, filed for personal bankruptcy in 2010, because he had personally signed on loans for the project.

“It’s the sad end to a tormented life,” the peson said. “Regardless of what he did, suicide is always tragic.”

Two people who knew him said Davidson had tried to buy a gun in South Carolina before he killed himself, but the gun dealer did a background check and found that he had a bench warrant for his arrest regarding the indictment. His motives for trying to buy the were not known, but it raised safety concerns for some people in Denver who knew him.

“He was on the run in Florida,” according to a man who had an unpleasant business experience with Davidson. “I pray for his soul, but this ends it. It is over.” Although he had a low opinion of Davidson, he said the news of Davidson’s suicide was “shocking.”

On Dec. 27, an Arapahoe County grand jury handed down the indictment against Davidson, charging that he had misdirected $3.1 million of $31 million in bonds for improvements for the proposed European Village brownstone and townhome development he planned to build south of the Landmark and Marin towers near East Belleview Avenue and Interstate 25.

The indictment said that Davidson was generally being paid $90,000 per month in compensation from various accounts for the development that never broke ground.

According to court records related to the indictment, Davidson was possibly bipolar.

Have a story idea or real estate tip? Contact John Rebchook at JRCHOOK@gmail.com. InsideRealEstateNews.com is sponsored by Universal Lending, Land Title Guarantee and 8z Real Estate. To read more articles by John Rebchook, subscribe to the Colorado Real Estate Journal.