On June 3, Formativ Real Estate Group celebrated the groundbreaking of Rowan, a 358-unit multifamily development at 3875 Walnut St. in RiNo. Located steps from the 38th & Blake A-Line commuter rail station, Rowan is part of Formativ’s larger investment in the 38th & Blake transit-oriented development site, which also includes 3850 Blake, a 310-unit workforce housing community currently under construction, and a forthcoming 180-key hotel.
“We are thrilled about this project for so many reasons—we know we have more and more folks who want to live in Denver and want to be able to afford to live in Denver and this does that in a thoughtful way,” said Mayor Mike Johntson. “We have new market rate units coming up, but we also have new workforce units coming up and they’re designed for exactly what folks need. If you are a 20-something looking for your first job or you’re a teacher, nurse or a firefighter, and you want to still be able to live in one of Denver’s best neighborhoods, you can do that at this location. That is the Denver we have dreamed, that is the Denver we are working to deliver, and that is the Denver that this project represents.”
Together, the projects reflect Formativ’s holistic approach to urban infill development and its continued confidence in the growth of north RiNo. Recognizing that the multifamily pipeline has slowed across Denver, Formativ saw an opportunity to advance a coordinated mix of housing, hospitality, retail and neighborhood-serving uses designed to meet future demand at one of the city’s most transit-connected urban locations.
“Rowan only strengthens the momentum for Denver and our RiNo neighborhood,” said Sean Campbell, CEO of Formativ. “This development elevates both design and lifestyle, adding to the ecosystem we are building between 3850 Blake Street and the hotel. While others have pulled back, we believe this is exactly the right moment to be building in Denver. With multifamily development starts down significantly over the last few years, and solid absorption of the current supply, we are positioned to deliver into a great market in 2028. This mixed-use development at the 38th & Blake TOD site represents a new phase of growth for Denver, and we are excited to be a part of this momentum for our city.”
Rowan will introduce a higher-end market-rate rental offering with a curated mix of studios, one-bedroom, and two-bedroom homes for rent. It will also include a limited number of high-design penthouse homes with in-unit fireplaces, wet bars, five-piece baths, expanded living areas, and premium finishes.
Formativ has assembled a best-in-class team for Rowan’s delivery. Denver-based SAR+ is serving as architect of record, bringing deep local expertise to the project’s design. Austin-based Britt Design Group is leading interior design, and The Weitz Company has been selected as general contractor. Construction is underway with an anticipated 28-month build timeline. Formativ expects to welcome residents to Rowan in fall 2028.
Rowan’s amenities span levels five and 16, designed for elevated urban living. Level five’s year-round deck features a pool, spa, private grill stations, and a flex turf lawn for programming, movie nights, and outdoor fitness. Inside, the lounge is anchored by a double-height fireplace and multiple social spaces. A best-in-class fitness center, private treatment room, yoga and Pilates studio, and outdoor zen garden round out a thoughtful approach to recovery and rejuvenation. On the 16th floor, residents will enjoy a library, coworking lounge, theater room, and café—all opening onto a deck with unobstructed views of the Denver skyline and Front Range. Every detail, from residential-inspired interiors to refined finishes, reflects a commitment to an exceptional living experience.
Formativ’s broader development program in this area brings together complementary uses at different price points and for different audiences. At 3850 Blake, most residences will be reserved for households earning between 60% and 90% of area median income (AMI), adding needed workforce housing near transit and employment centers.
The residential developments are paired with a planned 180-key, nationally flagged hotel that will deliver much-needed placemaking, conferencing and event space for the neighborhood, which is slated to break ground in Q1 2027. These three developments will deliver more than 15,000 square feet of activated retail—establishing a true anchor for the north end of RiNo.
These projects build on more than a decade of Formativ investment in downtown Denver and RiNo. The Denver-based firm has been active in the area for more than 16 years, and its concentration of projects in RiNo reflects a continued focus on urban infill sites that can support new housing, hospitality, retail and transit-oriented activity in high-growth neighborhoods. To learn more about Formativ’s portfolio and investment approach, please visit: www.formativco.com.
