Colorado

Rendering of Revival on Platte in Denver

DENVER — Mortenson and Pinnacle Partners have broken ground on Revival on Platte, an Opportunity Zone project in Denver’s Sun Valley neighborhood. Completion of the 200-unit, eight-story building is estimated to be next year. The project is adjacent to the South Platte River. It will include one- and two-bedroom apartments and two levels of parking. Residents also will have access to eight electric cars via a third-party app. Amenities include a fitness center, a business center and a rooftop amenity deck. The structure will be built with Mortenson’s prefabricated interior …

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A 3D render of The Garrison, a blue multifamily building with brown accents.

FOUNTAIN, COLO. — Thompson Thrift will develop The Garrison, a garden-style community in the southern Colorado Springs suburb of Fountain. The development will consist of 336 units across 10 three-story buildings on a 22-acre site. The Garrison offers one-, two- and three-bedroom floor plans, up to 1,369 square feet, with features such as Alexa-compatible smart hubs and property-wide Wi-Fi. Amenities include a clubhouse, resort-style pool, 24-hour fitness center, a community grilling area and a dog park. The Garrison is expected to open in late 2024. Thompson Thrift has built or …

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A 3D render of 32nd and Eliot Apartments, a white and black contemporary style building.

We know Denver’s housing story as it relates to the pandemic: The metro’s high quality of life, access to outdoor amenities and lower prices than other Western mainstays (California) drove demand sky-high for the past three years. With that came an increase in prices — as it always does.  The average rent for an apartment in metro Denver was $1,838 in the fourth quarter of 2022, according to research firm Apartment Insights. This is actually a slight decrease from the thirdquarter average of $1,870 per month. Andrew Hamrick, general counsel …

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Fox Meadows Apartments, a gray multifamily community with several buildings.

FORT COLLINS, COLO. — Lakewood, Colorado-based Olive Bark has acquired Fox Meadows Apartments for $36.8 million. Fox Meadows Apartments is a 138-unit partial LIHTC community in Fort Collins, which is 45 miles north of Boulder, Colorado. Sixty-three units are set aside for households earning at or below 60 percent of the area median income. The property was built in 2001. Colliers Multifamily Advisory Group’s Bill Morkes and Craig Stack represented the seller and procured the buyer, a private local developer. The transaction included a fully amortizing, fixed-rate HUD loan assumption.

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Range at Reunion, a three-story multifamily building. The first floor is brick, the second and third are beige siding.

COMMERCE CITY, COLO. — SouthWestern Property Corp. has sold Range at Reunion in Commerce City, which is 7 miles northeast of downtown Denver, for $65 million. Walker & Dunlop arranged the sale on behalf of the seller and the private buyer in a 1031 exchange. Brokers Dan Woodward, Dave Potarf, Matt Barnett and Jake Young comprised the investment sales team. The 180-unit Range at Reunion was developed in 2022. Amenities include a fitness center, clubhouse, business center, conference room, pool and dog park.

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A 3D render of Atlas Longmont, a four-story multifamily building in shades of brown.

LONGMONT, COLO. — The Dinerstein Cos. has unveiled its plans to develop Atlas Longmont, an apartment property located at 301 First Ave. in Longmont. Situated on 12 acres, Atlas Longmont will feature 371 studio, one-, two- and three-bedroom apartments ranging from 541 square feet to 1,411 square feet. The 300,000-square-foot property will consist of 10 three-story buildings, one four-story residential building and a two-story leasing and amenity building. Community amenities will include an outdoor pool, multiple spas, a clubhouse, roof deck and coworking space. An affiliate of The Dinerstein Cos. …

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