A 15.3 acre site at 6855 West 56th Avenue in Olde Town Arvada has been purchased by Southern California-based ReyLenn Properties. This property is slated to be developed into a 352-unit apartment community.
The Denver office of ARA Newmark provided brokerage services to the buyer in this transaction.
ARA Newmark Managing Director Chris Cowan stated, “ReyLenn Properties has been deeply committed to Olde Town Arvada and this location for years. Their persistence in navigating the many complexities of this site will bring future residents an exciting and high-quality community that will redefine the Olde Town Arvada lifestyle.”
KTGY architecture and planning firm designed this project.
This residential development has been titled Solana Olde Town Station. One, two, and three bedroom units will be offered ranging in size between 650 to 1,354 square feet with 72 percent of units having attached garages. Community amenities will include a pool, yoga and spin studio, and a golf simulator.
RTD’s Gold Line, an 11.2 mile commuter rail line will have a station at Olde Town Arvada. The line will provide rail service to Denver’s Union Station and will have connecting service to Denver International Airport. The commuter rail vehicles can travel up to a speed of 79 mph. The Olde Towne Arvada station broke ground in 2014 and is expected to be fully completed in the summer of 2016.
“We feel Olde Town Arvada is a very dynamic place to be right now and we are excited to be part of the community. Equally as exciting was the kindness and sincerity we experienced within the area. It really has a neighborhood feel,” stated Jason Smith partner for Reylenn.
Solana Olde Town Station is expected to break ground this month with construction slated to be completed in the fall of 2017.