Trammell Crow Breaks Ground on Metro Denver Mixed-Use Project
- Jul 18, 2018
Trammel Crow Residential has broken ground on Diagonal Crossing, a mixed-use community in Boulder, Colo. Back in 2017, the company acquired the 20-acre parcel from Birch Mountain LLC for $7.5 million, according to BizWest. The property is bounded by Diagonal Highway, Foothills Parkway and Independence Road.
The development will consist of 250 market-rate apartments, 85 affordable units and retail space. Trammell will donate three of the six parcels to nonprofit organizations Studio Arts, Meals on Wheels and Naropa University, which will use the space for community art classes, a meal-distribution facility and faculty housing. A partnership between Allison Management and Koelbel and Co. will develop and own the affordable apartments.
Located at the northern entrance of 3600 State Highway 119, Diagonal Crossing is set to offer a mix of studio, one- and two-bedroom units, as well as common-area amenities such as a 6,000-square-foot clubhouse, fitness center, outdoor swimming pool and spa, bike storage, B-Cycle station and a landscaped center promenade with public art displays. In-unit amenities will include quartz countertops, tile backsplashes, stainless steel appliances and nine-foot ceilings. The community was designed to achieve LEED Silver certification.
“As the vast majority of Boulder’s housing stock consists of single-family homes and smaller buildings converted into apartments, the demand for quality apartment housing has grown well beyond the available homes in the market,” Jarvie Worcester, managing director of Mountain States Division for TCR, said in a prepared statement. “We believe the Diagonal Crossing community will help meet the demand while also creating housing opportunities for the firefighters, nurses, police officers and others who work to serve and protect the community.”
In March, TCR partnered with HQ Capital Real Estate to develop a 211-unit garden-style community in Montclair, Calif.
Image via Google Maps