Rare Condo Development in City Park West Launches Sales
One of the few newly constructed condominium projects in metro Denver has announced the launch of sales. Located at 1601 Park Ave in City Park West, The Arbory, a five-story condominium development, offers 41 for-sale condos ranging from urban one-bedrooms to two-bedroom penthouses.
The property is being brought to market by Generation Development, a local Denver developer. Generation Development focuses on acquiring and developing for-sale condominiums in iconic neighborhoods throughout the Denver Metro area. Generation Development engaged Studio PBA to design The Arbory. The company’s portfolio of urban communities will total 167 homes once The Arbory is complete, which is slated for September.
“Our focus is on building for-sale residential projects in great locations that reflect the uniqueness of the surrounding neighborhood and stand the test of time,” said Chris Lonigro, president of Generation Development. “As one of the only new-construction condominium projects in Denver right now, coupled with its City Park West location, diverse floorplans and attainable price points, The Arbory is a truly unique opportunity in this real estate market.”
Perfectly situated in one of Denver’s most sought-after neighborhoods, City Park West, The Arbory is located directly between City Park and Uptown, equidistant from downtown and Cherry Creek and near both Cheesman Park and Denver Botanic Gardens, making it perfect for those who want proximity to downtown and Uptown as well as easy accessibility to the diverse local business and restaurants of this well-established neighborhood.
The Arbory offers 41 total units ranging in size from 552 square feet to 1,361 square feet and a mix of urban one-bedroom; one-bedroom; one-bedroom plus den; two-bedroom; two-story, two-bedroom that lives like a townhome; and two-bedroom penthouse. Each option has a one-of-a-kind floorplan that provides generous amounts of natural light and stylish modern finishes, while certain homes will have a private balcony and views of Denver’s downtown skyline. Community amenities currently intended for The Arbory include a shared 2nd-floor interior courtyard; a 5th-floor communal rooftop terrace; and a 48-space parking garage with a car lift system. Prices range from $325K to $1.1M.
Generation Development has engaged broker Brad Arnold of Slifer Smith & Frampton Real Estate to handle sales for The Arbory. Arnold, who has lived in Denver since 2012 and worked exclusively in development sales since 2005, was most recently the driving force, along with his team, in achieving the complete sellout of The Coloradan at Union Station.
“As of February 10, there are just over 1,000 total active residential listings in the entire Denver metro area in The Arbory’s price range, and of those only 152 are condominiums,” said Arnold. “Given the current realities of the market combined with the quality of the homes at attainable price points, we expect buyers to be incredibly interested in buying at The Arbory and for sales to occur at a pretty brisk pace.”
The sales process will begin by joining an interest list on The Arbory website followed by invitations to education events for interested buyers on March 10, March 24 and April 7. Potential buyers may then schedule sales appointments between April 14 and May 1 and contracts may be taken starting May 5. Closings are scheduled to take place in mid-September once construction is complete.