Denver Luxury Condo Project Lands $83M
HFF arranged construction financing for Lakehouse on 17th, a waterfront high-rise, on behalf of NAVA Real Estate Development. This project marks the first in Colorado to pursue WELL Building Certification.
NAVA Real Estate Development has secured $83 million in financing to develop Lakehouse on 17th, a for-sale luxury condominium development in the Sloan’s Lake neighborhood of Denver. This project marks the first in Colorado to pilot and pursue WELL Building Certification.
Located at 4202 W. 17th Ave., on the south side of the 177-acre Sloan’s Lake Park, the 12-story community will comprise 196 units, including 13 multi-level townhomes.
Also of note, Lakehouse on 17th will be the only waterfront high-rise in the Denver metropolitan area. Community features will include:
- second floor landscaped amenity deck
- community gardens
- Rocky Mountain views
- urban farm
- hot tub
- lounging areas
- resident lounge
- community kitchen
- indoor/outdoor fireplace
- media den
- private event space
- wellness center
- fitness lab
- yoga studio
- juicing station
“Lakehouse on 17th will be one of the few condominium developments delivered in the core Denver market since 2009,” Brock Yaffe, director at HFF, told Multi-Housing News. “The NAVA team placed extra care to ensure residents will feel connected with both Colorado’s natural environment and Denver’s urban setting. This unique development will provide residents with a once in a lifetime opportunity to own in a project that will be considered one of Denver’s most coveted residential buildings for years to come.”
HFF’s debt placement team of Yaffe and Managing Directors Josh Simon and Bryan Clark arranged the floating-rate construction loan with a national bank. Last month, HFF arranged a $33.8 million loan for Palisade Park, a 216-unit community, also in Colorado.
Image courtesy of HFF