T.O.D. Properties, a Denver-based mixed-use development and investment group led by Scott Watkins, has sold a property of 1.3 acre (± 56,530 square feet) comprised of a full half block parcel located at 2850 Blake Street in Denver’s River North (RiNo).

The buyer for the mixed-use zoned site is Mill Creek Residential which is the same firm that is developing the 362-unit apartment project at 2980 Brighton Boulevard that is currently under construction.

Mill Creek Residential is planning an apartment community currently named Modera River North Arts that will include 180 apartment units 

Brian Wynne is the managing director of development for Mill Creek and is heading up the Modera River North Arts project.

“This site is a very desirable piece of real estate in the Denver area and represents a rare opportunity to develop a unique and creative community in the heart of Denver’s hottest submarket,” said Wynne. “The Modera River North Arts residences will offer great walkability to amenities and incredible access to downtown Denver. It will be a unique community as it is a smaller, more boutique apartment development for the neighborhood.”

The site formerly housed a 12,900 square foot industrial building and the structure was previously considered for redevelopment by Scott Watkins, Principal of T.O.D. Properties.

“We acquired the site at 28th & Blake with the intentions of developing it ourselves as a for-sale residential project,” said Watkins. “Due to a few site challenges for our intended use, the inability of the state legislature to reform construction defect liability issues last year, and the continued demand for rental properties, it made sense to let this go to an experienced multifamily developer. This is a great site in a dynamic area and Brian and his team should do well.”

Mill Creek plans to break ground at the end of the 1st quarter 2016 with final units delivered near year end in 2017.