RedPeak Properties Breaks Ground on First ‘Built Green’ Rental Project

By Anuradha Kher, Online News EditorDenver–RedPeak Properties has broken ground on a 148-unit luxury apartment project as part of an expansion of its existing 439-unit Seasons of Cherry Creek, located at 3498 Ellsworth Dr. in Denver.When the 13-story building is complete in 2010, The Seasons of Cherry Creek will total 587 units across three high-rise towers. Rents for the two-and three-bedroom apartments range from $2,600 to $4000.“The rental market in Denver is doing very well compared with other cities of our size,” Mark Windhager, COO of RedPeak, tells MHN. “For high-end projects in Denver, this is all the more true. There have been almost no concessions in the rents at high-end rental properties.”The new building is the first rental multifamily project accepted into Built Green Colorado’s multifamily pilot program. The only other multifamily project in the pilot program is a condo building. The 13-year old Built Green Colorado program had largely focused on single-family homes up until now. As part of the pilot, RedPeak will implement “green” standards designed to increase energy efficiency by 15 percent above the existing code.”Green building is very important to us and we have an internal sustainability committee. We are happy to have the opportunity to develop a green project that will help to further the industry’s transformation to green building,” Windhager says.Jennifer Olguin, Built Green Colorado’s staff lead on the multifamily program, says, “Built Green Colorado has a long track record of improving the housing marketplace through green building standards that encourage home builders to use technologies, products and practices that result in homes that are better built and better for the environment. Extending this to the multifamily industry is a natural next step for our organization.”RedPeak will implement several environmentally friendly measures as part of the Built Green Colorado program, including the reuse or recycling of construction debris and finished materials to avoid using landfills; use of locally manufactured and recycled sustainable materials to minimize impact caused by shipping and reduce the strain on natural resources; daylight dimming system to control artificial lighting and the use of Energy Star appliances.Amenities include private wine cellars, chef-caliber kitchens, hardwood flooring, slab granite countertops, custom cabinetry, stainless steel appliances, 24-hour concierge, media room, demonstration kitchen, private dog park and reserved underground parking. In addition, the project offers full access to the existing amenities at The Seasons of Cherry Creek, including its 10,000-sq.-ft. private health club, yoga and Pilates classes, and massage therapy.