Aspen Heights Partners Breaks Ground on Colorado Community

The developer will be building a 351-unit property in Lakewood, Colo., across the street from a light rail station.
Rendering of project. Image courtesy of Aspen Heights Partners

Aspen Heights Partners will be revitalizing a blighted site in Lakewood, Colo., into a luxury market-rate multifamily community. The developer has begun construction on the 351-unit community for an expected completion date of July 2022, Aspen Heights’ division president Todd Gaines told Multi-Housing News.

The Lakewood community will offer studios, one-, two- and three-bedroom floorplans that range in size from 533 to 1,353 square feet. Tenants will get access to a five-story parking structure, heated pool, hot tub with cabanas, resident clubroom, outdoor grill area, fire pit, outdoor game area, rooftop terrace, dog park with a washing station, business center, ski and bike repair shop, putting green and golf simulator.

Located diagonally across from the RTD Rail Line’s Lakewood-Wadsworth Station, the property will also give its residents a 15-minute commute or a 7-mile drive to downtown Denver, where many major tech companies have expanded.

Alongside its Lakewood project, Aspen Heights is also working on three other multifamily communities in Amherst, Mass.; Charleston, S.C.; and Las Vegas. The developer also broke ground on a 323-unit apartment community in Austin, Texas in June.

SUPPORTING THE VISION

“The local employment growth, proximity to shopping and job centers, and next-door access to the light rail station all made this location a compelling location for a multifamily project,” Gaines told MHN about the Lakewood community. “At the same time, we saw an opportunity to re-energize and repurpose a blighted site along Wadsworth Boulevard and provide the type of transit-oriented development envisioned in Lakewood’s adopted Station Area Plans and encouraged in the West Colfax Vision 2040 Plan.”

Gaines referred to a document that was adopted by the plan’s organizing group in 2015 that shaped how the historic West Colfax corridor was to be built for the future. The plan emphasized maintaining the area’s cultural identity while promoting infrastructure improvements and enhancing its transportation connectivity.