Millennials’ Influence on the Multifamily Market: Analysis & Trends
By Keith E. Moore, AIA, Architect at RMG As the nation’s largest living generation, millennials stand to make quite an impact on the future of the multifamily commercial real estate market. Already at 76 million, their numbers are expected to peak in 2036 at 82.1 million, surpassing the baby... Read more
Denver Affordable Housing Program Aims to Create More Workforce Housing
View here According to a Denver Post article, Chipotle may partner up for a pilot program that aims to buy down rents on up to 400 market-rate apartments, to increase the amount of affordable housing in Denver. Some of those apartments will likely house Chipotle employees — provided they meet... Read more
Denver’s Mariposa District Celebrates Completion of Apartment Units
View here Denver’s Mariposa District development is celebrating the completion of its apartment units. The Denver Housing Authority (DHA) is redeveloping the existing distressed public housing to provide Denver residents with affordable and market-rate living options that offer easy access to the nearby 10th and Osage light rail station. Three more... Read more
$86M Apartment Project Breaks Ground in Westminster
View here Minneapolis-based developer Sherman Associates has broken ground on Ascent, an $86 million apartment project in Westminster with 24,000-square-feet of ground-floor retail. The ground-breaking comes one month following the news that an Origin Hotel and Marcyzk’s Fine Foods will be developed on the Westminster mall site. Image courtesy of... Read more
Vertix Builders Announces the Completion of Tennyson Place Apartments in Denver
DENVER – Vertix Builders, a culture-focused construction company, is pleased to announce the successful completion of construction of the new Tennyson Place Apartments in Denver.  The new apartment community, developed by Allante Properties, includes 81 micro units and three levels of underground parking.  It is located at 3885 North... Read more
192-Unit Apartment Community in Colorado Springs Sells for $16.4M
Colorado Springs, CO  –  A 192-Unit apartment community in Colorado Springs recently sold for $16,460,000 ($85,729/unit and $106/sf), a price that’s reflective of current market conditions in Colorado Springs. Crest View Apartments located at 370 Crestone Lane, was built in 1975.  The buyer reportedly has plans to carry out... Read more
Cherry Creek North Under Construction
View here With eight major developments currently underway in Cherry Creek North, the premier shopping district is set to become even more exclusive. It will also boast Denver’s highest rents for retail, office and luxury living. But the construction, looming cranes, and blocked-off roads and parking meters has many people... Read more
Lakewood Apartments Sell for $63M
DENVER – Steadfast Apartment REIT III, Inc. (STAR III) has acquired its sixth apartment home community, Belmar Villas. The 318-unit garden style apartment community, located in the Denver suburb of Lakewood, was purchased for $63.3 million. “We believe the Denver area is a great match for the investment objectives of... Read more
Colorado Luxury Apartment Project Selects Alabama-Based Builder
View here Birmingham, Alabama-based Doster Construction Co. will build a new luxury 240-unit, 327,950-square-foot multifamily project in Longmont, CO. “Springs at Sandstone Ranch,” designed by architects Rosemann & Associates, will be the fifth project Doster has worked on for Wisconsin-based developer, Continental Properties. Image courtesy of Doster Construction Co.   Read more
Suburban Denver Property Achieves Highest-Ever Price Per-Unit
DENVER — Amberley Heights, a two-building, 96-unit, condo-quality asset located in the upscale commercial and residential community of Inverness in Englewood, CO has sold for $38.6 million. The property, with larger than average units, sold for more than $402,000 per unit and $267 per square foot, making it the highest-ever sale price per unit... Read more