CityView, Dinerstein to Develop CO Luxury Apartments
- Jul 19, 2017
CityView, in partnership with The Dinerstein Cos., acquired a property in Denver that will be converted into Colorado Station. The 350-unit development will replace the underused retail center currently found at the location, anchoring the southeast corner of Colorado Boulevard and Evans Avenue. The equity capital CityView provided to purchase the property is from its CityView Western Fund.
“Denver, like all of the markets in which CityView invests, is ideal for us given the city’s increasing population, healthy lifestyle, proliferation of good jobs and the fact that housing there is simply in short supply,” said Sean Burton, CEO of CityView. “These are the factors we look for when choosing where to invest our capital and Colorado Station fits squarely in that strategy.”
The proposed Class A development was designed by Cunningham Group Architects and will feature several sustainable elements including a green roof system, electric vehicle charging stations and energy efficient appliances. Apartments will consist of studios and one-, two- and three-bedroom floorplans ranging from 600 to 1,260 square feet. Residents will have access to amenities such as a resort-style pool, outdoor cabanas, fitness center, aqua lounge, two mountain-facing rooftop terraces, an outdoor kitchen area, dog park, bike and ski repair and storage, business center and a virtual skiing simulator.
“Colorado Station is a quintessential CityView project that aims to provide much needed housing in the area, and enhance the community through its design and sustainable features,” Burton told Multi-Housing News. “We are looking forward to breaking ground and working closely with our partner, The Dinerstein Cos., which has an extraordinary reputation in the multifamily industry and, like us, is passionate about building something of value for the long term.”
The project is minutes away from Cherry Creek, one block from the RTD Light Rail stop (Colorado Station), and is a short train ride from downtown, the University of Denver and the Denver Tech Center. Groundbreaking is scheduled for August 2017 and completion for mid-2019.
Image courtesy of CityView