The Laramar Group, a nationally recognized real estate investment and management firm, has announced plans to begin construction this fall on a 155-unit multifamily community in one of Denver’s most prominent infill corridors. Located at 1565 Colorado Boulevard, on the former site of the Royal Palace Motel, the project will bring contemporary rental housing to a core urban neighborhood with limited remaining development opportunities.
“There is strong demand for new, high-quality rental housing near central Denver, particularly in neighborhoods where larger development sites are increasingly rare,” said Chris Winchester, senior vice president of development at Laramar. “This project represents a unique opportunity to deliver an institutional-scale community in a highly sought-after residential setting. We’re excited to grow our presence in Denver with this distinctive development.”
The new community at Colfax Avenue and Colorado Boulevard will consist of a six-story, wood-framed building with two levels of above-grade parking. Construction is slated to begin in winter of 2025, with first unit deliveries expected in fall of 2027.
The development will feature a mix of studio, one-, and two-bedroom apartments averaging approximately 730 square feet. Residents will enjoy a robust amenity package including a rooftop deck with panoramic views of City Park and the Rocky Mountains, a high-end fitness center, clubroom, multiple coworking spaces, and secure, onsite parking for 152 vehicles. With a Walk Score of 86 and Bike Score of 75, the property offers exceptional connectivity to downtown Denver, Cherry Creek, City Park, and surrounding neighborhoods.
The project sits on the former site of the Royal Palace Motel, located just one block south of City Park, Denver’s largest urban park. In recognition of the site’s local history, Laramar has preserved and donated the motel’s iconic neon sign to the Colfax Avenue Museum, where it remains on public display at a nearby gallery.
Laramar currently owns and operates 22 multifamily properties in the Denver metro area, totaling 2,318 units. This includes Metropolis, a 13-story, 71-unit property just 0.6 miles south along Colorado Boulevard.
Denver continues to be a leading national destination for business and talent, driven by a favorable tax climate, a highly educated workforce, and a superior quality of life. The area surrounding the project is home to approximately 5,000 healthcare jobs within three major medical campuses, including National Jewish Health, Rose Medical Center, and St. Joseph’s Hospital, all of which are nationally ranked and provide long-term employment stability to the community.
