Brookfield Residential Announces Land Acquisition in Central Park
Building on its mission to create developments that seamlessly integrate into the community, Brookfield Residential has announced the acquisition of 1.499 acres of land in the heart of Denver’s Central Park neighborhood, where 37 townhomes will soon be developed. The home builder and land developer has built 182 homes in Central …
LA-Based Investment Firm Secures $73M Loan for First Multifamily Development in Colorado
Banyan Residential, an LA-based real estate investment firm, has closed a $73 million loan to finance the construction of Banyan High Point, a 399-unit multifamily development in Aurora. The project is being developed in collaboration with Bridge Investment Group. Construction is expected to begin in early June 2023 with estimated …
Denver-Based Avanti Acquires Kansas City Apartment Community
As part of a continued effort to seek compelling investment opportunities in the Kansas City market, nationwide multifamily investor and operator Avanti Residential has acquired the 308-unit Summit Square apartments in the Kansas City metropolitan area for $80 million. Avanti now owns eight apartment communities in the greater Kansas City …
CoreSite Expands Data Center Footprint in Denver and Silicon Valley
CoreSite, a leading hybrid IT solutions provider and a subsidiary of American Tower Corporation, today announced the continued expansion of its Denver and Silicon Valley data center campuses, to meet the dynamic digital infrastructure requirements of public and private cloud providers, enterprises, network, and service providers. As a leading interconnection …
Navigating Denver’s Housing Shortage in an Era of Transformation
By Adam Berkelhamer, AIA, associate principal, FitzGerald The City of Denver is evolving. The 2020 U.S. Census tracked a population growth within the city of nearly 20 percent over the ten years prior, and this kind of growth naturally brings about change. A city that was long considered a bargain …
“Expanding Housing Affordability” Deadlines Extended for Existing Projects
On Monday, May 22, Denver City Council voted in favor of extending the deadlines of the city’s Expanding Housing Affordability (“EHA”) ordinances. The extensions maintain the intent of the ordinance as originally adopted by allowing adequate time for existing projects to move through development permitting. The extensions do not apply …
Affordable Housing Community Breaks Ground on Former Johnson & Wales Campus
On May 18, Archway Communities held a groundbreaking ceremony for its affordable housing development on the Mosaic Community Campus located at 7150 Montview Blvd, Denver. Archway, a leader in providing quality affordable housing for Coloradans, has begun renovations on four historic dormitory buildings at the former Johnson & Wales Campus …
58-Key Hotel Proposed for Denver’s Lake Steam Baths
Boom Car Wash LLC, the new owners of the Lake Steam Baths, a bathhouse and spa facility located at 3540 W. Colfax Ave. in Denver, has submitted a proposal to the city to build a five-story, 58-key boutique hotel called The Lake Hotel, with underground parking and a spa. Denver-based …
Best Interstate Inn Wheat Ridge Sells for $5.5M
The Best Interstate Inn, a budget-friendly, 100-room hospitality property located in Wheat Ridge, has sold for $5.5 million. According to Marcus & Millichap, the two-building, 40,928-square-foot offering is situated across 3.07 acres and provides the buyers with a multifamily conversion opportunity. Christy McDougall, associate, in Marcus & Millichap’s Denver office, …
Denver’s Self Storage Market Saw Busiest Year on Record in 2022
One sector of Denver’s commercial real estate had a busy year in 2022 as spending on self storage space surged to $100 million. That’s according to StorageCafe’s most recent industry sales report which examines the state of the sales market and seeks to identify the top self storage markets based on …