Cortland, a vertically integrated, multifamily real estate investment, development and management company, has begun construction of Cortland Peterson, a new luxury apartment community minutes away from the Peterson Space Force Base with easy access to downtown Colorado Springs.
The initial phase of the project is expected to be completed in Summer 2025 with the final phase expected to be delivered in Summer 2026. Cortland Peterson is the firm’s second development in Colorado Springs, bringing its total local unit count to more than 1,300.
Drawing inspiration from the picturesque mountains and natural beauty of Colorado, the design of Cortland Peterson will feature angled roofs, large, exposed beams, stone facades and wooden shake siding. Together these architectural notes will bring the familiarity of a mountain ski lodge.
“Colorado Springs is very attractive to us given its unprecedented growth and ranking as one of the top U.S. cities to live,” said Nicholas Sommariva, Colorado-based director of development for Cortland. “The outdoor activities, vibrant community, great weather and quality of life continue to draw people to the area, and we are excited to contribute to its development. Cortland Peterson will set a new standard for multifamily housing in this flourishing market by providing residents with an elevated living experience.”
The 294-apartment home community will blend two-, three- and four-story buildings to provide a mix of living options for residents. Units will feature granite countertops and matte black fixtures in kitchens and bathrooms, standard smart locks, Nest thermostats and hardwood flooring throughout.
The community will also feature top-of-the-line amenities, including a large courtyard, which will highlight a stunning pool with poolside cabanas, a hot tub heated year-round, outdoor grill and kitchen areas, and a fire pit. In addition to the state-of-the-art fitness center with a multifunctional turf area for high-intensity training and a leash-free dog park, residents will also be able to enjoy a fourth-story sky lounge with a bar offering great views of Pikes Peak. In response to growing resident demand, the development will have 29 Level 1 and 37 Level 2 electric vehicle chargers.
With this new addition, Cortland has four communities in Colorado Springs and 19 communities across Colorado.
Cortland Peterson is a joint venture with Promus Realty Properties, Iviron Capital Partners, and BMO Bank, N.A.
