LOUISVILLE – Greystone Unique Apartment Group recently announced the sale of 301 & 333 East St., in Louisville, for $5 million. This rare & unique transaction is the culmination of two years of planning and development by Mike Eisenstein of Land Capital. It represents the largest such deal in the history of Louisville, Colorado.
Apex Real Estate Solutions bought the packaged deal from Land Capital and will develop the 4-acres of land into 42 high-end farmhouse-style townhomes to be called Clementine Townhomes, located two blocks from Main Street, along the Coal Creek Trail. A park will provide a buffer from Main Street along the south side of the development.
Erik Hartronft of Hartronft Associates p.c. is the architect for the project.
Zoning for the site permits multifamily development at duplex or townhouse densities, but also permits single-family development.
According to the representing broker, Brandon Kaufman of the MacCarter/Kaufman Team of Unique Properties, residential development is extremely hard to come by in Boulder County.
“This is a residential deal that others have tried to do but haven’t been successful,” said Kaufman. “The city and county are very picky about what they want and they don’t want a lot of density in the area. They want to keep it a haven of sorts, a quiet place, with great architecture and great people.”
Mike Eisenstein of Land Capital also has six other large entitlement plays, similar to this development, in the metro area. He is currently involved in projects around Westminster Station as well as the revitalization of the The Avenue Grill located at 630 E. 17th Ave. in Uptown Denver. Eisenstein is also planning to build a 5-story condo project across the street from The Avenue Grill. More on those projects to come.
Images courtesy of Unique Properties
