Hunt Mortgage Closes $37M Denver Construction Loan
Located at the corner of West 38th Avenue and Upham Street, West End 38 is slated to include 165 units and roughly 7,200 square feet of retail space.
After securing a $26 million Fannie Mae loan for a suburban Chicago community, Hunt Mortgage Group has closed on a $36.6 million FHA mortgage for the construction of West End 38, a mixed-use development in Wheat Ridge, Colo. The company secured the loan on behalf of the borrower, West End 38 LLP. Shaw Builders is the general contractor.
The community will feature 165 units, roughly 7,200 square feet of retail space and various outdoor and indoor amenities. Located on approximately 2.8 acres, at the corner of West 38th Avenue and Upham Street, the community will be situated roughly five miles west of downtown Denver.
The four-story building will consist of a mix of 22 studios, 100 one-bedroom units and 43 two-bedroom units. West End 38 is set to feature common-area amenities including:
- business center
- community room
- swimming pool
- cyber café
- fitness center
- barbecue area
- bicycle storage
- dog wash
“West End 38 Apartments will be the first truly integrated mixed-use project in the City of Wheat Ridge that will provide market-rate housing for the working professional and families, along with commercial retail space,” Stephen Wessler, director, FHA originations in the affordable housing group at Hunt Mortgage Group, said in a statement.
The community is set to offer 225 on-site parking spaces, with each of the 165 units to have one parking space included in the rent. The project is also classified as green/energy efficient housing.
Image via Google Street View