Mill Creek Residential Adds Luxury Apartments in Denver
- Jul 22, 2019
Mill Creek Residential Trust has opened Modera Cap Hill, a 197-unit luxury apartment community in Denver’s Capitol Hill neighborhood. The eight-story property is located at 1200 Grant St., immediately south of downtown Denver and the State Capitol Building.
Designed by Davis Partnership Architects and built by Shaw Construction, the new community provides a mix of studio, one- and two-bedroom units averaging 783 square feet, as well as townhouse layouts. Select homes feature 18-foot ceilings with separate dining areas, pantries and private balconies or patios. Amenities of the project include an elevated pool and spa deck with barbecue grills and a double-sided fireplace, as well as a 24-hour fitness center, coffee bar and resident lounge.
The community is nearby Civic Center Park, Cheesman Park and the Denver Botanic Gardens. Residents have access to various dining, shopping and entertainment venues in the area, including the hip collection of restaurants and bars within Uptown district. Nearby transit options include Colfax Avenue to the north and Speer Boulevard to the southwest, as well as Interstates 25 and 70 and 6th Avenue a short drive away.
Modera Cap Hill earned a walk score of 95 and bike score of 96 from the Walk Score website, which notes that daily errands from the location do not require a car and that the neighborhood is “flat as a pancake” with excellent bike lanes.
Growing in the Mile High City
Mill Creek Residential purchased the 0.75-acre site from the Colorado Association of School Boards in March 2017 for $6 million, according to city records cited by BusinessDen, and soon after demolished the existing office building.
Including the newly opened property, Mill Creek Residential has eight communities developed or underway in the Denver area. In 2017 the multifamily investor and operator built the 275-unit Class A apartment community, Modera at Observatory Park. The company remains the property manager after selling the asset in the Observatory Park neighborhood to The Bascom Group for $92.5 million in May 2018.
The trust’s Modera West Wash Park, a 242-unit community in the Speer neighborhood, recently topped out at eight stories. The 132-unit Modera LoHi, developed by the firm in partnership with Rockwood Capital, broke ground in the Lower Highlands neighborhood this past January.