Hines, the global real estate investment, development, and property manager, together with MBK Rental Living has announced plans for Retreat at Mountainside, a Class-A for-rent residential community in the Briargate neighborhood of Colorado Springs.
Comprised of 284 residences across multiple three and four-story buildings, Retreat at Mountainside will boast permanent, unobstructed mountain views. Floorplans will include one-bedroom, two-bedroom and three-bedroom offerings ranging from 628 to 1,429 square feet. Future residents will have access to an array of outstanding amenities including a well-appointed clubhouse with resort-style swimming pool, contemporary coworking spaces, a fitness center, and a dog park.
“The site for Retreat at Mountainside is particularly appealing due to its location in a high-growth area, offering sweeping mountain views and excellent access to other parts of town,” said Chris Crawford, senior managing director and city head of the Denver office of Hines. “The development will meet the demand for high-quality living options in Colorado Springs. We look forward to seeing this project come to life and are confident that it will enhance the community and lifestyle of its future residents.”
Situated on a 9.7-acre site at the intersection of Briargate Parkway and Powers Boulevard, Retreat at Mountainside will provide convenient access to Briargate’s plethora of shopping, dining and entertainment options. The vibrant and growing neighborhood is known for its family-friendly atmosphere, excellent schools and convenient location in the northern part of Colorado Springs near I-25 and other major highways.
“Retreat at Mountainside represents the epitome of luxury living in Colorado Springs, and we are honored to partner with Hines to bring this community to the market,” remarked Ken McCarren, president of MBK Rental Living. “As a developer, our goal is to provide an exceptional living experience for residents that reflects how people want to live, work, and enjoy life. We are excited about creating a community with Hines where residents will truly feel they have found their dream home.”
Brady O’Donnell, Jill Haug and Alex Scott of CBRE Capital Markets’ Debt and Structured Finance team in Denver secured the loan on behalf of Hines and MBK Rental Living.
“We were able to help Hines and MBK Rental Living navigate the challenging and ever-changing debt market to efficiently capitalize a project that meets a need in the Colorado Springs housing market,” said CBRE’s O’Donnell. “Retreat at Mountainside will provide a luxury living experience in the Briargate neighborhood.”
Construction is underway and Retreat at Mountainside is slated for completion in 2025.
