The team that is developing the Platt Park North project announced this week that residential units are now 65 percent leased. This 60-unit development is currently taking shape at Mississippi and South Broadway. The first units in at Platt Park North opened in April.

Lance Gutsch and Kiely Wilson of Pando Holdings and Chris Firman of CF Investments started their partnership in 2013 when they broke ground on the $56 million project, with financing provided by ANB Bank and MidFirst Bank (formerly Steele Street Bank). The first phase of the project included selling 29 finished lots for single family detached homes to TRI Point homes in October 2013, which are now completely sold out.

“Lance, Chris and I came together as a group of local developers with a shared vision – We wanted to invest in Denver, and build, manage and own this project for the long-term in a great neighborhood,” said Kiely Wilson. “Each townhome has a large defined living space with a separate garage and front door. There is no shared common lobby or areas, like many other projects being built right now.”

Platt Park North is being constructed by W.E. O’Neil Construction. The units range in size from 1,073 square feet to 1604 and are all three-level homes. Units feature stainless steel alliances, natural wood floors and are available in 2-3 bedroom units.

A 25,000 square foot private park for residents was integrated into this development. The park was designed by Studio Insite who has offices in Denver and Omaha.

“We recognized a need in the Denver marketplace for larger rental units than the typical 1-bedrooms being built now,” stated Lance Gutsch. “We wanted to build a different kind of space for families or couples just starting out – They want more space and open concept living, but they don’t want to leave proximity to the downtown core or the Tech Center where their jobs are. Platt Park North gives them both.”

Units begin at $2,500 a month and Cornerstone Residential Services is managing the leasing.

Long-time Denver residents will recall this development is taking shape on the property where the Gates Rubber factory once stood and sat vacant for many years.

“We’re building these townhomes in a great neighborhood – A block away from light rail with easy access to downtown Denver or the Tech Center, a few blocks from Wash Park, right next to some of the best restaurants in the city on South Pearl Street, and by the end of the year, there will be a Sprouts grocery store right across the street at Mississippi and Sherman,” said Chris Firman.