Confluence JV to Develop 298-Unit Community
The project is part of a 31-acre master plan.
Confluence Cos. and Origin Investments have formed a joint venture to develop Brickyard Apartments, a 298-unit community in Castle Rock, Colo. The project is part of Confluence’s 31-acre master-planned development, dubbed The Brickyard.
Origin Investments formed the partnership via its IncomePlus Fund vehicle, a multifamily equity portfolio totaling 33 properties and more than 7,300 units.
Plans call for the transformation of the former Acme Brickworks plant site, which closed in 2019. Acme Bricks will be repurposed within the master plan.
Phase one of the multifamily project will come online in the summer of 2027, with phase two set to deliver in the spring of the following year, according to Denver Business Journal.
READ ALSO: Top 10 Markets for Multifamily Deliveries
The 3-acre property will rise at 401 Prairie Hawk Drive, close to Interstate 25 and several retail and dining options. Downtown Denver is within 31 miles, while Denver International Airport is 42 miles northeast.
The unit mix will comprise 36 studios, along with 149 one-, 98 two- and 15 three-bedroom residences. The community will also have 38,300 square feet of commercial condo space.
Amenities will include a rooftop swimming pool with hot tub, lounge sauna and cold plunge, a fitness center and private social lounge and kitchen. Plans also call for an outdoor terrace area, a golf simulator, courtyards with green space and a dog spa.
A Denver-area master plan
The Brickyard master plan is set to bring more than $400 million in new development to the city. The project will be anchored by the 145,000-square-foot Castle Rock Sports Center and will also include 160,000 square feet of retail, office and entertainment space, a 100-key hotel, a conference center and 100 condos. Upon full build-out, scheduled for 2030, The Brickyard will total 400 apartment units.
The town of Castle Rock owns and funds the sport center, which is already under construction. The facility will comprise a competition gymnasium, fitness area with cardio, two running tracks and a meeting room, along with 4,000 square feet of outdoor turf/flex space.
Denver’s growing multifamily pipeline
As of early December, Denver had 104 multifamily construction projects underway, set to total almost 22,850 apartments upon completion, according to Yardi matrix data. Out of these developments, 40 broke ground this year.
One of them is Wood Partners’ Alta Flatirons, a 251-unit community in Superior, Colo. The company started construction on the downtown project in June.
