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Rendering of Modera Observatory Park courtesy ARA Newmark.
ARA Newmark has announced the sale of 1911 S. Josephine Street in Denver. The 1.03 acre site will be developed into two five-story apartment buildings that will house 275 apartment units with 336 parking spots. This future apartment project is located in Denver’s Observatory Park neighborhood near the University of Denver.
ARA Newmark provided brokerage services to the seller in this transaction. The property was sold to Mill Creek Residential, a Texas-based multifamily developer.
Executive managing director Chris Cowan of ARA Newark stated, “This transaction illustrates the continued demand for housing in a neighborhood experiencing some of the best market fundamentals in Denver with limited new supply, single digit vacancies and explosive rent growth. With visibility from I-25, light rail access within walking distance and proximity to some of the highest value homes in Denver, This opportunity was one that Mill Creek understood immediately.”
Construction is slated to begin in ernest this month with completion expected in the first quarter of 2017. Denver-based Studio PBA is the architecture firm that designed this development which is titled Modera Observatory Park.
Mill Creek Residential managing director Brian Wynne represented Mill Creek in this transaction.
Wynne stated, “We were attracted to the Observatory Park neighborhood for many reasons, including the easy commute to both Denver’s employment centers and convenient access to some of Denver’s best amenities and transit. We plan to develop a high quality community with top level finishes, a luxucry pool deck and more. We are very excited to become a part of this neighborhood.”
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RedPeak’s 1145 Ogden property. Image courtesy RedPeak.
RedPeak’s 1153 Ogden property. Image courtesy RedPeak.
RedPeak’s 929 Marion. Image courtesy RedPeak
Denver-based RedPeak apartment management and ownership firm has announced that it is has added $13.85 million of new apartment properties to its portfolio. This includes the purchase of three apartments buildings in Denver’s Capitol Hill neighborhood. RedPeak paid cash for the three properties located at 929 Marion, 1145 Ogden and 1153 Ogden. Altogether this adds up to 66 units and the purchase averages out to $413 per rentable square foot.
“These strategic and seamless acquisitions bring RedPeak’s ‘Urban Living Portfolio’ to 730 units in 17 buildings in Denver’s most walkable neighborhoods, and our total Colorado portfolio now consists of 2,445 units,” said Bobby Hutchinson, Investment Director for RedPeak. “In addition, we have recently broken ground on an eight-story, 115 unit apartment building located at 7th & Sherman in the Governors Park neighborhood, which we expect to deliver next summer, and have recently completed a substantial renovation of a 32 unit historic property at 970 Pennsylvania Street. We continue to look to expand upon our growing presence in Denver’s highly desirable urban neighborhoods.”
RedPeak states it is actively seeking high quality apartment buildings in Central Denver, and is willing to pay top market prices for assets that fit the company’s target criteria. RedPeak’s other recent purchases include the Coachman Apartments, 1075 Corona, 880 and 890 Dexter, 820 Dexter, 825 Dahlia, 805 Dahlia and 70 Clarkson.
Construction of apartments at 7th and Sherman. May 2015.
The One City Block project that was completed in 2014 in Denver’s Uptown neighborhood and The Seasons of Cherry Creek apartments are also among RedPeak’s Denver properties.
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]]>The post Luxury mixed-use development under construction in Five Points appeared first on Denver Urban Review.
]]>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
“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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SkyHouse Denver ground breaking. Feb. 17, 2015
Simpson Housing, Novare Group, and Batson-Cook Development Company broke ground today on a 26-story luxury residential high-rise tower on the corner of Broadway and 18th Avenue in downtown Denver.
SkyHouse Denver is a mixed-use project featuring 354 apartment homes ranging from studio to two-bedrooms and 6,900 square feet of street-level retail space. The signature SkyHouse on the top floor of the building includes a club room, swimming pool and fitness center. The structure will also include vehicle charging stations and a dog walk with a dog washing station. The building is targeting millennials who are choosing to live in urban centers close to public transportation, employment centers and entertainment venues.
Rendering of the SkyHouse Denver residential high-rise at 18th and Broadway. Image courtesy Novare Group.
“We are excited to be working with Simpson Housing and Batson-Cook Development Company to add SkyHouse Denver to the fabric of downtown,” said Jim Borders, President and CEO, Novare Group. “Denver has tremendous momentum including a strong economy and burgeoning downtown residential market. The Mile High City has been on our radar for several years, and we are thrilled to have an excellent location that fits perfectly with what our residents want.”
Jim Borders, President and CEO, Novare Group addresses the crowd at the SkyHouse Denver ground breaking Feb. 17, 2015
JP Morgan and US Bank are providing construction financing for the project, and Simpson Housing, Batson-Cook Development Company, and NGI Investments, LLC, led by Jim Borders, and are providing equity. Batson-Cook Construction and Swinerton Builders are the general contractors. The building is designed by Smallwood, Reynolds, Stewart, Stewart and Associates.
The apartment homes will all have:
- Nine foot ceilings with floor to ceiling glass
- Quartz countertops
- Hardwood floors
- Stainless steel appliances and porcelain tile
Longtime Denver residents will recall the SkyHouse Denver site was home to the Cosmopolitan Hotel that was imploded in 1984. The site has served as parking lot for the last 30 years.
SkyHouse Denver is the 14th SkyHouse-branded apartment community in the United States following projects in Dallas, Houston, Austin, Atlanta, Tampa, Orlando, Charlotte and Raleigh. The sustainable building is being built to Energy Star standards. It is expected to be delivered in mid 2016.
Members of the SkyHouse Denver development team and the City of Denver stand poised to break ground.
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]]>The post Energy efficient awards bestowed to Colorado-based home builder appeared first on Denver Urban Review.
]]>New Town’s ArtiZEN Plan – designed to be as energy efficient as possible – was named Best in Green among Single-Family Production Homes by NAHB. This is the first year NAHB has given Best in Green Awards.
“This year’s group of winners truly represents the best of environmentally friendly building and remodeling,” said NAHB Chairman Kevin Kelly, a homebuilder and developer from Wilmington, Delaware. “Not only are these homes beautifully designed, but they also take green building to the next level by using the most resource-efficient and innovative sustainable building practices available.”
New Town Builders’ ArtiZen home with solar panels. Photo Courtesy Center Reach Communications
The National Sales and Marketing Council (NSMC), a council of NAHB, also recognized New Town’s ArtiZEN Plan with a Gold Nationals Award for Best Green/Sustainable Home Design.
“We want to be a company that makes a difference,” New Town CEO Gene Myers said. “The ultra-high-efficiency home world is relatively small, and it is a privilege to be recognized by our industry as delivering the very best in environmental science and design. More importantly, we hope that our example can lead more builders to deliver high-efficiency design at an affordable cost.”
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]]>The post Inside look at the Balfour at Riverfront Park appeared first on Denver Urban Review.
]]>The Balfour at Riverfront Park provides independent living, assisted living, and Alzheimer’s/memory care apartments furnishing a continuum of care for residents. The property is located at 1500 Little Raven St. adjacent to Riverfront Park.
Exterior of the Balfour at Riverfront Park
“Vibrant cities are the places for everyone, not just young professionals and empty nesters. I grew convinced that seniors who have had exciting and successful professional and social lives would continue to want to live where the action is, perhaps more than ever- rooting at the stadium for the home team; staying active and enjoying nature by walking and biking on convenient pedestrian friendly paths along the river; and strolling safe diverse and interesting neighborhoods filled with local restaurants and retail shops,” said Balfour Founder and CEO Michael K. Schonbrun.
The amenities of the residence include:
- A hydrotherapy spa and saltwater pool
- A state-of-the-art fitness center with in house trainers
- Library with current periodicals
- Business center with a reservable conference room
- Beauty salon with pedicure and manicure treatments available
- Culinary-trained executive chef and two full-sized commercial kitchens
State-of-the-art fitness center at the Balfour at Riverfront Park
Heated Saltwater pool at the Balfour at Riverfront Park
The Balfour at Riverfront Park
Interior of the Balfour at Riverfront Park
One of the many lounge areas at the Balfour at Riverfront Park
The historic Moffat Depot was incorporated into the project and will serve as the community’s Great Room. Well known Denver businessman David Moffat developed the depot which was constructed in 1906. Moffat was blocked from using the nearby Union Station, so he worked to build his own depot with plans of trains reaching the west coast on his own railroad. Moffat’s railroad never did reach the west coast and only went as far as northwestern Colorado. Balfour has restored the exterior of the historic depot to its original condition.
The Moffat depot constructed in 1906 has been restored and integrated into the Balfour community
The property was designed by architects Robert A.M. Stern of New York and Klipp of Denver. The location provides easy access to local museums, sporting and performing arts venues.
“When Balfour was first offered in 2002 the opportunity to buy a site in the still undeveloped area now known as Riverfront Park, the master developer, Harry Frampton of East West Partners, told me that he wanted Riverfront Park to be an “urban village” populated not only by empty nesters and young working professionals, but also by young families with children and seniors. This concept of a multi-generational, vibrant community has borne fruit. Balfour at Riverfront Park has filled in the last missing piece to this vision,” said Schonbrun.
For more information visit the Balfour at Riverfront Park.
All photos are the work of Denver Urban Review
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Rendering of The Confluence. Courtesy PM Realty Group
PM Realty Group (PMRG) along with its partner, National Real Estate Advisors, announced today that construction has begun on The Confluence, a Luxury high rise tower at 2166 15th Street. The project is located adjacent to the confluence of Cherry Creek and the Platte River in the area where gold seeking pioneers first established a settlement that would one day become Denver some 155 years ago.
Rendering of The Confluence. Courtesy PM Realty Group.
The tower will rise to an impressive 34 stories making it the tallest structure in Riverfront Park providing terrific views of Denver and the Front Range. The 288 unit building will feature studio, one, two, and three bedroom apartments ranging from $1,500 to $12,000 a month.
“There is a growing demand for luxury multifamily living in urban areas throughout Denver,” said Bryant Nail, Executive Vice President of PMRG. “Positioned within the LoDo submarket, the site provides an ideal balance between the serenity of the River Front Park area while maintaining convenient access to the energized core of the LoDo entertainment district and the employment center of the CBD of Denver.”
GDA architects designed the glass tower that will feature state-of-the-art amenities such as a terrace with a saltwater infinity-edge pool, a fitness center, and a dog washing station. The structure will also include ground floor retail and space for a future restaurant.
Site preparation work, including the demolition of an existing structure has been going on for the last few weeks. Now that construction has begun, Denver Urban Review will provide periodic construction updates on this project.
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]]>Each home will have two bedrooms, 2.5 bathrooms, a two car garage, and a rooftop patio. Pricing for the units will begin in the low $400s with the size of homes ranging from 1250 to 1650 square feet.
The interior of the residences will feature main level hardwood floors, quartz countertops, and Bosch stainless steel appliances. Custom options are also available.
Sales will begin in early February with delivery of units expected in early 2016. For more information on this project contact: [email protected]
Denver Urban Review will provide updates on this exciting addition to Denver’s Five Points Neighborhood.
Image Courtesy Clear Creek Real Estate LLC
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]]>The post Speer Blvd. Apartments under construction appeared first on Denver Urban Review.
]]>This apartment project is managed by Gables Residential. Pre-leasing is slated to begin in December of this year. This property will offer one and two bedroom units.
Rendering of apartment project at Speer Blvd. And 6th Ave. Image courtesy Gables Residential
Images courtesy Gables Residential
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