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Sep. 27, 2013

Fore Property Ready to Open New Denver Apartments

By Dees Stribling, Contributing Editor

Denver—1000 South Broadway, a 260-unit apartment community in Denver, will open in October, according to developers Fore Property Co. (FORE) and Prospect LLC. The project, which is between Broadway, Lincoln St., Tennessee and Mississippi avenues, broke ground earlier this year.

The apartments will average about 925 square feet and come in one-, two- and three- bedroom layouts. A number of the property’s common amenities are found in its “Sports Zone,” which will feature an 80-inch and four 40-inch TVs, game room, poker room, barbecue areas, rooftop entertainment lounge with beer chilling “kegerator,” bike and ski repair area and a 24-hour clubhouse.

1000 South Broadway is a LEED Gold development in a walkable neighborhood—its Walk Score is 72, which is in the “Very Walkable range”—among a number of restaurants, boutiques, shops and cafes. It also counts as TOD, being roughly equidistant between the Broadway and Louisiana light rail stations.

The developers are taking advantage of strong demand for apartments in metro Denver. During the second quarter of 2013, vacancies stood at 4.2 percent, according to the Apartment Association of Metro Denver. That’s the lowest metro vacancy rate since the second quarter of 2000.

Washington, DC- and Las Vegas-based Fore is a multifamily specialist that has developed or acquired about 18,000 apartment units since its founding three decades ago. Prospect was founded by developer Scott McFadden, formerly of Trammell Crow.

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