Embrey Partners to Build 304-Unit Denver Community
- Jul 26, 2021
Embrey Partners has acquired the site for the upcoming Hensley at The District, a 304-unit luxury community part of a larger mixed-use development in Centennial, Colo. First units are expected to start leasing in the first part of 2024, with the whole project slated for completion later that year.
The community will be located within The District-Centennial, a 36-acre project developed by Brue Baukol Capital Partners. Plans for the development include some 2.5 million square feet of office space, 1,800 apartments and more than 30,000 square feet of retail, according to the developer’s website.
Hensley at The District is set to include a six-story building with wrap-style parking. Units are slated to offer luxury finishes including stainless steel appliances, quartz countertops and custom cabinetry. Residents will have access to a clubhouse, a business center, barbecue and firepit areas, a landscaped courtyard, a pool and lounge, as well as a gym and a dog spa.
The site of the project stretches between Interstate 25 and South Chester Street. The property is close to the RTD Dry Creek light rail station, which connects to downtown Denver, some 17 miles away.
An active year for Embrey Partners
As Denver multifamily is on its road to recovery, rents were up 50 basis points on a trailing three-month basis as of April, according to Yardi Matrix data. Meanwhile, developers are powering through, with the metro’s pipeline including more than 21,000 rental units under construction, the same report shows.
Embrey Partners, in the meantime, is also keeping busy across other major markets. Recently, the company sold a 285-unit asset in the Dallas area. Earlier this year, Embery also acquired a 2.2-acre parcel in Phoenix, the site of an upcoming 266-unit community.