CP Capital, a highly disciplined U.S. real estate manager specializing in multifamily investments, has entered into a joint venture with Greystar to develop a 288-unit multifamily community in Brighton. Located at the intersection of Longs Peak Street and N. 42nd Avenue, the Brighton Park project is located in the heart of Brighton, home to over 41,000 residents. The three-story, 288-unit garden-style development is nestled on a 13-acre site and will help meet rising demand for multifamily housing in the high-growth Denver suburb.
The architect for the project is Sikes, Abernathie Architecture P.C. The project is expected to break ground in the fourth quarter of 2021. First units are expected in early 2023, with construction expected to be completed in the second quarter of that year.
“The greater Denver market has been experiencing considerable economic and population growth in recent years, creating significant demand for high-quality rental housing in suburbs such as Brighton,” said Paul Doocy, co-head of CP Capital. “We are thrilled to continue our longstanding partnership with Greystar to deliver Brighton Park and further our mission of generating value for both our partners and the communities in which we invest.”
Community amenities will include a fitness center, resort-style swimming pool, dog park, detached garages and surface parking spots.
“We’re excited to join the Brighton community and deliver Greystar’s first development in the city alongside a terrific partner in CP Capital,” Greg Himmel, Greystar’s development director said. “The location of this community is terrific, with access to parks and walking trails and near the heart of Brighton. Access to the interstates and Denver International Airport is a breeze, simplifying downtown and airport commutes. Residents will also enjoy access to our well-designed amenities which include co-working space, an outdoor pool, and a fitness studio.”
CP Capital, formerly known as HQ Capital Real Estate, has partnered with Greystar on four development projects in the past, most recently The Gabriel in North Pomona, California, and Monty in North Charleston, South Carolina.
Rendering courtesy of Sikes, Abernathie Architecture P.C.