Consolidated Investment Group (CIG) has announced plans to develop an eight-story building in Denver at Colfax and Downing. CIG recently purchased an adjacent property where the 3-story building known as Route 40 sits.
The eight-story building is expected to include retail, co-work office space and 140 apartment units. A courtyard, rooftop deck, and fitness center are planned to be included. A ground breaking for this project is slated for the summer of 2016.
“We are excited to continue the revitalization of the Colfax corridor and expand our presence in the Capitol Hill neighborhood,” said Chris Winn, Asset Manager at CIG. “We envision an opportunity to introduce an exciting collaboration of spatial uses including retail, shared office and residential living.”
CIG’s Denver portfolio also includes the Parkway Apartments at Colfax and Speer.
“Our team focuses on maximizing the value of our existing real estate portfolio while strategically acquiring new real estate assets in select high-growth markets, like Denver, including Dallas, Houston, Austin and Phoenix.,” said Tim Bertoch, Vice President of Real Estate at CIG. “As a Denver-based investment group, we have been excited to see our local real estate market thriving over the past several years, allowing us to explore even more opportunities right here in our own backyard,” Tim added.
CIG’s global portfolio is valued at over $2 billion.