LMC Constructs Denver Tech Center Apartments
- Dec 21, 2017
Multifamily specialist LMC, an arm of Lennar Corp., is about to complete Malbec at Vallagio, an apartment community in the Denver suburb of Greenwood Village, in the Denver Tech Center (DTC) district.
Residents began moving into the community earlier this year, and construction will be fully finished early in 2018, according to LMC. Common amenities include a business center, fitness center, swimming pool and residents lounge. The property also features digital package lockers and an EV charging center.
Residents have access to the RTD, Denver’s light rail system, which runs through the DTC. The Dry Creek station is close to Malbec.
The property is toward the upper end of pricing in the metro Denver market. One-bedroom rents run from $1,600 to $2,160 a month, while two-bedroom units fetch $2,100 to $2,560 per month. An average one-bedroom in the Denver market rents for $1,335, while a two-bedroom averages $1,628, according to Rent Cafe.
Tech Center Rivaling Downtown Denver
First established in the early 1970s, the Denver Tech Center has evolved into an employment and economic trade hub. Comcast, Dow Jones & Company, EchoStar Communications, JP Morgan, Merrill Lynch, Morgan Stanley, Nissan and PepsiCo are among the corporations that have headquarters or offices in the DTC.
“The Denver Tech Center no longer is a work-only place, as the new restaurants and entertainment districts on either side of Interstate 25 can attest to,” said Scott Johnson, division president of the mountain states and southwest for LMC. “With a growing number of people exchanging lengthy commutes for better work-life balance, the DTC’s transformation is cementing its place as a true rival to Downtown Denver.”