Wood Partners, Clarion Partners Kick Off Colorado Development

December 18, 2025

Development Denver Market Rate News More West

The project will add 365 units to the Aurora market.

A joint venture between Wood Partners and Clarion Partners has broken ground on Alta Metro Center, a 365-unit multifamily project located in Aurora, Colo. The project is taking shape in an Opportunity Zone, and is scheduled for completion in the first quarter of 2028.

Alta Metro Center will be part of the larger Metro Center master-planned development, a walkable district that includes residential, retail and civic areas. The community offers a mix of one-, two- and three-bedroom units in four buildings, each four stories. A clubhouse, fitness center, pool, lounge and gaming area with a kitchen are in the main building. Other amenities include a library and lounge zone, a micro-fitness area and a dog washing station, which are located in the other three buildings.

As a community, Alta Metro Center will contribute to the area’s emphasis on the arts, incorporating installations throughout, including two distinct pocket parks featuring functional art, play zones and outdoor fitness spaces. The development will also be located a few blocks from a light rail station, which provides access to other parts of metro Denver.

A national developer, Wood Partners is no stranger to Colorado. Earlier in 2025, the company broke ground on Alta Flatirons, a 251-unit community located in the town of Superior, which is between Boulder and Denver. The development is being built on on one of the last remaining parcels of the Downtown Superior Masterplan.

Wood Partners also has two other communities available for lease in the area, including the 186-unit Alta Piney Creek in southeast Aurora and Alta Mile High, a 216-unit community located south of the Mile High Stadium in Denver.

Denver multifamily softens

The Denver multifamily market has seen a development boom in recent years that is finally slowing down, but not before the significant supply tended to soften the market’s fundamentals, according to Yardi Matrix data.

Developers delivered 9,973 units in 2025 as of July, coming after last year’s 23,165 units. The metro’s stock growth averaged 4.6 percent over the past five years, well above the 2.9 percent U.S. yearly average.

The occupancy rate in stabilized properties in greater Denver recorded the largest slide among the 30 markets that Yardi Matrix tracks, coming in at 94.1 percent in June, down 70 basis points year-over-year.

Average advertised asking rents in metro Denver declined 3.9 percent, marking the second-slowest pace among the 30 metros.