Mortenson JV Breaks Ground on Denver Project
The development will feature a steel-framed structural system and prefabricated walls.
A joint venture between Mortenson and Pinnacle Partners has broken ground on Revival on Platte, a 200-unit multifamily community in Denver. The development will feature Mortenson’s steel-framed structural system and BLUvera‘s prefabricated interior and exterior walls.
Public records show that the developer is financing the project with a three-year, $44.8 million construction loan from Associated Bank. Completion is scheduled for 2024.
Designed by KEPHART, the 234,000-square-foot, eight-story community will comprise one- and two-bedroom floorplans, as well as two levels of parking. Amenities are slated to include a fitness center, business center with individual work stations and a rooftop deck, along with eight shared electrical vehicles.
Located at 2506 W. Colfax Ave., in an Opportunity Zone within the Sun Valley neighborhood, the 1-acre development site is less than 3 miles from Denver’s central business district and within walking distance of the Metropolitan State University of Denver. The project is part of the Stadium District Master Plan, a 58-acre mixed-use neighborhood destination on the southern portion of the Metropolitan Football Stadium District.
A recent Yardi Matrix report shows that Denver’s supply pipeline has remained strong, more units having broken ground in 2022 than in 2021.