The 12-story, 226-unit condominium project Sloan Lake Condo is slated to begin construction this year with a delivery expected mid 2017. The project is being developed by NAVA Real Estate Development and will be located on the southwest side of 17th Avenue and Raleigh Street.
NAVA was founded by CEO Trevor M. Hines and President Brian J. Levitt. They founded their development company in 2013 and are actively working on projects in retail, multifamily residential and mixed-use.
This project is noteworthy as very few condominium projects are coming online in the Denver Metropolitan area due to the current risk associated with the construction defects laws in Colorado.
In an interview with Hines and Levitt, Denver Urban Review asked why NAVA was comfortable electing to go the condo route as opposed to a rental property.
“We see the condo market as especially strong in Denver. There is hardly any inventory on the market for condos and just about all new multifamily projects are rentals. We actually see entering the apartment market as being riskier with the amount rental projects coming online in the metro area. The key to limit risk with a condo project is to build a high quality building and there is also current momentum to adjust the construction defects laws, said Hines.”
The Sloan Lake Condo development will feature:
- Views of the front range and downtown Denver
- Space for retail shops on the ground floor
- An amenity deck with a pool
- A 400-space parking garage
When asked what attracted NAVA to this development site Levitt said, “This really is a unique property being so close to the water. We really see this as being a desirable location for people from places like Chicago and New York that are use to being close to the water. We have even included space for kayak storage into the deign of the project.”
The project is a part of a new building certification pilot program called WELL through the International WELL Building Institute (IWBI). While other building certifications focus on the impact of a building on the surrounding environment, the WELL certification focuses on the impact a building has on the health of the occupants.
As stated on the IWBI’s website the mission of WELL is, “the IWBI is a public benefit corporation (B-Corp) whose mission is to improve human health and wellbeing through the built environment. B-Corps like IWBI are an emerging US corporate structure for corporations committed to balancing public benefits with profitability – harnessing the power of private capital for greater good.”
This NAVA project is located on the site of the former St. Anthony’s Hospital (SAH) which was demolished in 2013. The Sloan Lake Condo project is part of a larger redevelopment plan for the former hospital site.
6 blocks of development opportunities were made available after the demolition of SAH. The vision for this development is an area of sustainable mixed-used development including residential, retail and office.
*Renderings are subject to change.