Fifield Cos. Breaks Ground in Denver
Marking the company’s entry into Colorado, the project will feature 302 units.
Fifield Cos. has broken ground on a 302-unit community in Englewood, Colo. The asset, Arden Englewood Apartments, will be a four-story transit-oriented building. CIBC provided a construction loan for the development.
Situated at 3615 S. Jason St., the property is in proximity to downtown Denver, Littleton and the Denver Tech Center via two RTD light rail stations. The Rocky Mountains, with skiing, biking, hiking, walking and green space are approximately 15 minutes away.
The four-story community, designed by KTGY, will feature a lobby, fitness center, rooftop lounge with mountain views, pool, hot tub, party room and yoga room. Four hundred and forty parking spaces will be included in Arden Englewood, along with a business center and coworking space with patio.
Studio, one-, two- and three-bedroom homes, ranging from 570 square feet to 1,550 square feet, will include washers and dryers, open kitchens and in most units, a private balcony. Interior design is by Studio 10 while W.E. O’Neil is leading construction.
The Arden Englewood building is designed with a circle drive entry and stone and metal façade. It is being built on the site that formerly housed the Sports Authority headquarters parking lot, which has been out of use since 2016.
In addition to the building, Fifield Cos. is adding to the rail trail plan adjacent to the west side of the Arden Englewood. It will operate as a biking and walking bridge over Hampden Avenue allowing for residents to easily access the Englewood RTD station.
It is anticipated that the project will house more than 400 people and create 300 temporary construction jobs and 10 permanent employment opportunities. The apartments will create some $400,000 per year in annual property tax revenue.
The Arden Englewood is Fifield Cos.’ first development in the Colorado market. It is anticipated to finish construction in 2024.
Denver continues its growth
Denver’s multifamily market grew healthily throughout last year. Rents rose 1.2 percent on a trailing three-month basis through July, while demand kept up with supply. The city continues to grow and attract talent, and with the migration of people comes further development activity.
Recently in the area, Schnitzer West Living and Mitsui Fudosan America broke ground on a luxury community. Expected to open in 2025, the property will feature 337 homes and an outdoor deck facing Fiddler’s Green.