Transit-Oriented Apartment Project Tops Out in RiNo
Mica RiNo, a new apartment community that will bring 397 luxury for-rent residences to RiNo, has topped out. Overlooking Mission Ballroom, a top concert destination in the community, the building will also include a limited number of affordable units.
The midrise project is the fourth joint venture between Hines and the Cresset Partners‘ Diversified Qualified Opportunity Zone (QOZ) Fund I, comprising over $600 million in QOZ developments around the country. Mica RiNo is expected to achieve LEED Gold certification upon completion, demonstrating both Hines’ and Cresset’s continued commitment to sustainability.
“We are pleased to be one step closer to completing our next development project in Denver, especially one that combines a sought-after luxury lifestyle with the artistry and diversity of RiNo,” said Elliot Marks, director in Denver. “It’s extremely satisfying to see Mica RiNo take shape in the surrounding development. Hines and Cresset have a demonstrated longstanding partnership and are both excited to continue to raise the bar for multifamily residences with the project opening later this year.”
Hines has assembled a stellar design team for Mica RiNo, including Zeigler Cooper Architects, design architect; Parisa O’Connell Interior Design, interior design of common areas; Design Workshop, landscape architect; and Modern Constructors, general contractor. Northwestern Mutual provided construction and financing for the project.
Mica RiNo will include a mix of studio, one- and two-bedroom offerings, averaging 857 square feet, with select units boasting private balconies with mountain and city views. Additionally, Mica RiNo will be offering a limited number of affordable units.
The 11-story midrise project will feature excellent amenities for its future residents including a resort-style pool deck with a yoga lawn, covered grotto and gas BBQ ranges; large garden area with outdoor games, ample seating and fire pits; eleventh-floor sky lounge with views of downtown and the Rocky Mountains; thoughtfully designed coworking lounge space complete with meeting rooms, private work booths and coffee bar to accommodate the work-from-home lifestyle; and approximately 15,000 square-feet of ground-floor retail.
“We see great potential in the RiNo neighborhood, and we are pleased to be bringing jobs and high-quality multifamily development to this rapidly improving location,” said Mike Miller, executive managing director at Cresset Real Estate Partners.
A transit-oriented community, Mica RiNo offers nearby access to the light rail station at 38th and Blake, which is just one transit stop away from Denver’s Central Business District, LoDo, Coors Field and a 30-minute ride from the Denver International Airport via Denver’s transit system.
Mica RiNo is slated for initial occupancy in the fourth quarter of 2022. Pre-leasing will begin three months prior to delivery.