Transit Oriented Multifamily Development in Olde Town Arvada to Break Ground
The Residences at Olde Town Station, a Class A multifamily project in Arvada, will break ground this month. The four-story development features 252 residential units over two levels of structured parking. The project will be enhanced by a mixed-use project south of 56th Avenue across from the Residences, which will include community-focused retail, restaurants, and a hotel. Final completion is slated for late 2023.
The Denver office of High Street Residential (HSR), Trammell Crow Company’s residential subsidiary, is developing the project, along with JV Partner CBRE Investment Management, on behalf of the CBRE U.S. Development Partners 5 fund. The Eisen Group designed the project and PCL Construction is the general contractor. Citizens Bank provided financing for the project.
The Residences at Olde Town Station features a mix of apartments and walk-up units available for rent, ranging in size from studio to two bedrooms. Select units offer an added den.
“We appreciate this unique TOD opportunity and are excited to begin work on this dynamic new development in Olde Town Arvada,” said Bill Mosher, senior managing director with HSR’s Denver office. “Our goal for The Residences is to create a development that fits into the historic Olde Town community and takes advantage of its unique location within walking distance to Olde Town, the Transit Hub, and minutes to I-70 via Wadsworth Bypass. We and our partners, including the Arvada Urban Renewal Authority and City of Arvada, are excited to be part of the Olde Town Arvada community.”
The Residences project is uniquely terraced to accommodate a 35-foot hill bordering the site’s north and west sides. The transit-oriented development (TOD) is adjacent to the Olde Town Transit Hub on RTD’s Gold Line to the northwest and is accessed via 56th Avenue from Vance Street and Wadsworth Bypass. This project will feature many on-site amenities, including a well-equipped fitness center, a clubroom, and a lounge complete with community Wi-Fi. Additional amenities include abundant outdoor open space, including a rooftop deck, two courtyards with lounge seating and fire pits, a resort-style pool, and a dog park.
High Street’s Senior Vice President Erik Hagevik added, “The Residences at Olde Town Station provides high-end amenities that are more expansive and park-like than traditional multifamily developments in the area. A well-appointed pool deck, several outdoor amenities, and an interior club room all contribute to a great environment for community residents.”