Denver Luxury High-Rise The Confluence Breaks Ground
Ground has been broken on The Confluence, the newest ultra-luxury multifamily high-rise tower in Denver.
By Jeffrey Steele, Contributing Writer
Denver—Ground has been broken on The Confluence, the newest ultra-luxury multifamily high-rise tower in Denver. The announcement was made by the companies partnering in the project, full-service commercial real estate firm PM Realty Group (PMRG) and National Real Estate Advisors.
The 288-unit, 34-story development takes its name from its 1.21-acre location at 2166 15th Street, near the confluence of the South Platte River and Cherry Creek. The Confluence will offer discriminating renters studio, one-, two- and three-bedroom apartments with monthly rents ranging from $1,500 to $12,000.
“The Confluence is setting the bar for luxury renters,” executive vice president of Houston-based PMRG Bryant Nail tells MHN. “There is nothing like it currently on the market. The Confluence will attract those who want the high-end, condo-like finishes, but are not in the market to buy.”
Steadily growing economic strength made this the right time and place for The Confluence, Nail says. Rent growth has tallied more than 6 percent for two years. Denver occupancy stood at 95.8 percent at the end of 2nd quarter 2014. “Rising construction costs proved a challenge and affected our original timeline, but we engaged the right third-party companies to get us back on track,” he adds.
The GDA Architects-designed building is poised to become the tallest building in Riverfront Park. Among the features and finishes of the apartments will be hardwood floors, solar shades in every home, gourmet kitchens with granite countertops and Frigidaire Professional Gallery/Electrolux appliances. Select apartments will also showcase floor-to-ceiling windows. Penthouse residences as well as some other select homes will offer direct elevator access.
All residences provide dramatic perspectives on downtown Denver and/or the Rocky Mountains. Intergraded into The Confluence is a ground floor with more than 8,000 square feet of upscale street-level retail and restaurant space.
Also offered is access to the Cherry Creek and South Platte River trails.
The Confluence will deliver a number of state-of-the-art amenities. They include a large terrace with saltwater infinity-edge pool, underwater sound system, heated Jacuzzi, outdoor cabanas and fire pit, Skyline Lounge with catering kitchen, all-inclusive fitness center with top-of-the-line equipment, concierge, dog washing station and 24-hour coffee bar.
Major demand exists for luxury multifamily living in urban areas of the Mile High City, Nail says. “Access to the Riverfront Park area is in high demand due to its prime infill location. The high-rise tower is located adjacent to the South Platte River and possesses views over Confluence and Riverfront Parks,” he adds.
Positioned within the LoDo submarket, the site offers an ideal balance, he concludes. Renters will enjoy the serenity of the Riverfront Park area. But they will also savor convenient access to the LoDo entertainment district’s energized core, and the Denver central business district’s job center, he says.