Walter A. “Buz” Koelbel Jr., who led one of Colorado's leading local real estate companies for 47 years, died Sept. 19 of blood cancer. He was 72.

A third-generation Coloradan, Koelbel joined Koelbel and Co., a firm founded by his father, in 1976 after spending time in property management in San Francisco. He took over as president in 1985 and ran the company, eventually with his sons, until April.

He served as an executive adviser to the company after stepping back from his role as president and CEO.

Under Koelbel’s leadership, Koelbel and Co. developed numerous residential communities in metro Denver.

Among those projects were The Preserve in Greenwood Village, the largest custom home community in the metro region; The Breakers Apartment Community, now called Tava Waters; Rendezvous Colorado, a 1,000-acre community in Grand County; and Cherry Hills Park, a custom home community that set the record price point for lot sales in the Denver region.

With the assistance of his sons, Koelbel significantly expanded the company’s portfolio. Koelbel and Co. completed 10 affordable housing projects during Koelbel’s tenure and was responsible for adding more than 700 units of income-restricted housing.

He also kept the company active in other types of commercial development, overseeing the construction of Centennial Valley Business Park in Louisville, Catalyst HTI in RiNo, Pine Bluffs retail in Parker and other developments along the Front Range.

Koelbel was also a co-founder of the Denver South Economic Development Partnership, the Common Sense Institute and the High Line Canal Conservancy. He served on several local boards and was a proponent of education, making financial contributions to many institutions over the years.