An 8.04 acre property in Centennial is slated to be developed into a 285-unit apartment community. The Denver office of ARA Newmark provided brokerage services with Chris Cowan and Steve O’Dell serving as lead advisors to the seller.
The Wolff Company purchased this property at 7338 S Havana and will develop the apartment community that has been named Elevate at INOVA.
“Wolff understood this submarket’s strong fundamentals,” stated Steve O’Dell. “With record-breaking rent growth, low vacancy and Denver’s booming in-migration, Elevate will be a welcome addition to the Denver Tech Center.”
This planned residential project is slated to begin construction this September with an expected build of 18 months.
One, two, and three bedroom units will be featured in ten apartment buildings. A mix of private garages and covered parking will be included.
Nate Carlson, vice president of development for The Wolff Company, stated, “Elevate’s high-quality apartments have striking architecture and will offer residents amazing views. We believe that Elevate will be a meaningful contribution to the local community. For people who work at the INOVA Dry Creek business campus or at the nearby Tech Center, Elevate offers convenient, high-quality living. It’s beautiful and quiet design will provide residents an oasis from which they can soak in the amazing views afforded by the site’s topography.”
The property was bought from Principal Real Estate Investors and United Properties who are the owners of INOVA Dry Creek– a mixed-use campus that will feature 695,000 square feet of office space, industrial, and residential components. This campus is located to the west of Centennial Airport.
Denver Urban Review first reported on the INOVA Dry Creek campus last month and to see that article click here.