McWhinney, in a joint venture with PGIM Real Estate, plans to break ground on FoundryLine this month, a new 17-story lifestyle-driven and luxury apartment community in the heart of Denver’s RiNo.
Located on a 1-acre site adjacent to the RTD’s 38th & Blake A-Line commuter rail station, FoundryLine will feature 348 refined apartment homes, ranging from elegant studios to spacious three-bedroom residences and top floor penthouses. Unique to this property, 30 units are planned to be attainable homes offered to qualifying residents who meet the income requirements set by the City of Denver.
Hensel Phelps is serving as the general contractor on the project, in partnership with AvroKO, Craine Architecture, Inc., and Dig Studio Office of Architecture. Dedicated to sustainable building practices, McWhinney is working with Denver’s Group 14 Engineering to design a building that is planned to earn two Green Globes & National Green Building Standard Bronze certification.
Brady O’Donnell and Jill Haug with CBRE in Denver arranged the arranged the construction financing on behalf of the borrower.
“The execution of the construction financing for The FoundryLine represents a best-in-class outcome, driven by the project’s strategic location, thoughtful design, and the outstanding reputation of McWhinney. We were able to conduct a highly competitive loan process that resulted in an incredibly accretive loan structure,” said Mr. O’Donnell.
A thoughtfully designed mix of amenities will include a rooftop pool, co-working and indoor/outdoor lounge spaces, 16th floor fitness center with an infrared sauna and steam room, and a dog run. FoundryLine is also planning to offer 14,000 square feet of ground floor retail and restaurant space, along with a 282-car parking garage.
“As the first major luxury development in the River North area, FoundryLine will define a new standard for housing in this neighborhood. Influenced by a legacy of craft and curation, FoundryLine bridges and celebrates the past, the present, and will become the trendsetter for its future,” said McWhinney President and Chief Operating Officer Ray Pittman. “Its location at a literal crossroads for travel and convenience makes it both an anchor and place maker for the surrounding neighborhoods of north Denver. As the city continues to burgeon, 38th and Blake will become a cornerstone of exceptional living and a desirable gathering experience for Denver.”
McWhinney has developed more than 3,500 apartment homes, including the 12-story SOVA on Grant high-rise apartments in Denver’s Uptown neighborhood and completed RiDE Studio Apartments in 2018, also located in RiNo. Other developed projects include PARK40, the latest development of 313 apartment homes that is now leasing at the new Baseline master-planned community in Broomfield, Colo., and Clovis Point, which features 208 modern apartment homes for lease in Longmont, Colo.
