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Project Announcements
Rare condo project for Denver’s RiNo
May 14, 2015 at 12:57 am 6
Green Development has announced that ground has been broken and construction has begun on its mixed-use project Factory Flats. This project is located at 3198 Blake Street in Denver's River North neighborhood (RiNo). Unlike most of the residential projects that are taking shape around Denver, this development is a for-sale condo project.
Rendering of Factory Flats. Image courtesy GreenSpot Real Estate.

Rendering of Factory Flats. Image courtesy Green Development.

"Denver is an exciting place to be right now," noted Melissa Baldridge, Co-Owner and Co-Founder, Green-Building Solutions Provider, GreenSpot Real Estate. "However, one of the downsides of the housing boom is the rising cost of rent, which is pricing many young professionals out of the market. Since the end of 2010, rental prices in Denver have grown at nearly twice the pace of hourly wages, according to data from the real estate firm Zillow and the U.S Labor Department. Baldridge added, "At Factory Flats, interested buyers will pay less than they would pay in rent for a similar property in the neighborhood, and they will be investing in a home and building equity." Factory Flats will feature 24 flats ranging in size between 1,188 sq. ft. to 1,456 square feet. Ground floor space for retail or office use has been incorporated into this development. Factory Flats is targeting LEED and ENERGY STAR certifications and each unit will be solar-powered. Once commuter rail service begins in 2016 on RTD's East Line, residents will be within walking distance of a station at 38th Avenue and Blake Street. The East Line will provide rail access to Denver International Airport. Commuter rail trains will reach a top speed of 79 miles per hour and will run every 15 minutes during peak hours. Residential units will feature hardwood floors, quartz countertops and stainless steel appliances. Construction is expected to be completed in the middle of 2016. Pre-sale pricing for units ranges in the $400s. Units will be available in one and two bedroom options. "Factory Flats is exactly the type of development that Denver needs right now," said Tracye Herrington, Co-owner and founder, Employing Broker, GreenSpot Real Estate. "The city has very few new construction for-sale condo options, and as millennials and baby boomers continue to come in droves to Denver, they want to live in beautiful, green, community-focused places in vibrant, walkable neighborhoods like RiNo."  
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Project Announcements
Luxury mixed-use development under construction in Five Points
March 17, 2015 at 12:11 am 7
Currently under construction in Denver's Five Points neighborhood is The Wheatley, a luxury apartment building with a for sale town home component. This project is located at 25th Avenue and Welton Street. Craine Architecture is the architect of record for this project. The developer is Palisade Partners and the general contractor is Confluence Builders. Space for ground floor retail, 14 luxury for sale town homes, and 82 apartments comprise the project. The apartments will reach 5-stories and a level of underground parking will be featured. The building will be located  within Denver's Welton Landmark Design District and needed to meet the Landmark Preservation Commission approvals before construction could begin.
Rendering of The Wheatley. Image courtesy Craine Architecture

Rendering of The Wheatley. Image courtesy Craine Architecture

"Working with the Denver Landmark staff and the Commission, the building has been designed to be of its time, while incorporating elements that reference the rich context of the neighborhood. Although much of the building's massing, material selections, and detailing, were informed by the character defining elements of the neighborhood, perhaps the most unique element is the chamfered corner, used throughout the district as a way to address the public right-of-way, and provide for a welcoming building entry. The Wheatley celebrates the corner at the intersection of 25th and Welton with a chamfered condition, enhanced masonry detailing, and a suspended canopy, marking this prominent building entry," said architect Eric Bottenhorn of Craine Architecture. A rooftop deck and a fitness center will be incorporated into the project. Unit finishes will include quartz countertops, stainless steel appliances and and in-unit laundry appliances. Pricing for the for town homes will begin in the low $400s with square footage exceeding 2,000 square feet in all of the for sale units. One and two bedroom options will be featured in the apartment portion of The Wheatley. This project is being built on the site where the Phillis Wheatley Young Woman's Christian Association operated from 1916-1964. Phillis Wheatley was the first published African-American woman and first published African-American poet. The character of the neighborhood was considered during the design of the building. "The architectural fabric along the Welton corridor, is generally arranged into multiples of 25 feet, relating to the typical lot width.  Historically significant buildings in the Five Points neighborhood, such as the Rossonian, have been organized with an obvious base, articulated with highly transparent storefront, a less transparent middle and a top that is often characterized by a projecting cornice.  The Wheatley has been crafted to balance this contextually appropriate traditional language, with a material palette and detail refinement, familiar to contemporary architecture," said Bottenhorn.    
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Project Announcements
Condo project coming to former St. Anthony’s Hospital site
March 3, 2015 at 11:14 pm 0
The 12-story, 226-unit condominium project Sloan Lake Condo is slated to begin construction this year with a delivery expected mid 2017. The project is being developed by NAVA Real Estate Development and will be located on the southwest side of 17th Avenue and Raleigh Street. The architects of record for this project are RNL of Denver and Munoz Albin of Houston. NAVA was founded by CEO Trevor M. Hines and President Brian J. Levitt. They founded their development company in 2013 and are actively working on projects in retail, multifamily residential and mixed-use.
Rendering of the Sloan Lake Condo project. Image courtesy NAVA

Rendering of the Sloan Lake Condo project. Image courtesy NAVA

This project is noteworthy as very few condominium projects are coming online in the Denver Metropolitan area due to the current risk associated with the construction defects laws in Colorado. In an interview with Hines and Levitt, Denver Urban Review asked why NAVA was comfortable electing to go the condo route as opposed to a rental property. "We see the condo market as especially strong in Denver. There is hardly any inventory on the market for condos and just about all new multifamily projects are rentals. We actually see entering the apartment market as being riskier with the amount rental projects coming online in the metro area. The key to limit risk with a condo project is to build a high quality building and there is also current momentum to adjust the construction defects laws, said Hines."
Rendering of the west elevation of the Sloan Lake Condo project. Image courtesy NAVA

Rendering of the west elevation of the Sloan Lake Condo project. Image courtesy NAVA

The Sloan Lake Condo development will feature:
  • Views of the front range and downtown Denver
  • Space for retail shops on the ground floor
  • An amenity deck with a pool
  • A 400-space parking garage
When asked what attracted NAVA to this development site Levitt said, "This really is a unique property being so close to the water. We really see this as being a desirable location for people from places like Chicago and New York that are use to being close to the water. We have even included space for kayak storage into the deign of the project." The project is a part of a new building certification pilot program called WELL through the International WELL Building Institute (IWBI). While other building certifications focus on the impact of a building on the surrounding environment, the WELL certification focuses on the impact a building has on the health of the occupants. As stated on the IWBI's website the mission of WELL is, "the IWBI is a public benefit corporation (B-Corp) whose mission is to improve human health and wellbeing through the built environment. B-Corps like IWBI are an emerging US corporate structure for corporations committed to balancing public benefits with profitability – harnessing the power of private capital for greater good." This NAVA project is located on the site of the former St. Anthony's Hospital (SAH) which was demolished in 2013. The Sloan Lake Condo project is part of a larger redevelopment plan for the former hospital site. 6 blocks of development opportunities were made available after the demolition of SAH. The vision for this development is an area of sustainable mixed-used development including residential, retail and office. *Renderings are subject to change.
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