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DENVER, CO-Multifamily developer, Wood Partners LLC and East West Partners, the developer of Riverfront Park and the Union Station neighborhood, have arranged capital from USAA Real Estate Co. to build a five-story mid-rise apartment community in the heart of the Union Station/Riverfront Park redevelopment.
Alta City House, a $62-million luxury development at 1801 Chestnut St., will include 280 units with one- two- and three-bedroom floor plans just west of Union Station. Construction will begin in August with the first move-ins scheduled in September 2013.
Wood Partners and East West Partners previously collaborated on the Glass House high-rise condominium project in Riverfront Park in 2007. Ryan Dearborn, CEO of Wood Partners, was the executive in charge of Glass House. The company long envisioned the new Alta City House as a complementary development and purchased the land in 2006, according to a prepared statement.
Tim McEntee, Wood Partners director, says that the company “purchased the land knowing that long-term it was a fabulous location. Today, this area and the whole urban lifestyle experience are exploding and we’re on the front end of it.”
Alta City House, located on a full block between 18th and 19th Streets and Chestnut, will be at the base of the pedestrian bridge on 18th Street and within 100 feet of the new light rail station just west of Union Station, and just blocks from the new train to DIA, projected for completion in 2016. The new community is just a few short blocks from the Platte River Greenway’s access to over 120 miles of bike trails.
The five-story structure with garage will occupy slightly less than three acres and will offer one-bedroom units ranging from 645 to 825 square feet, two-bedroom units from 991 to 1,227 square feet and nine three-bedroom townhomes with 1,300 square feet. “Alta City House will be the perfect destination for single young professionals and couples as well as empty nesters who are downsizing or seeking second homes in the core of urban life,” says McEntee.
The community will feature a two-story fitness center, cyber café, two-story club room, game room, two large outdoor courtyards, one with a large pool area with outdoor fireplace, a plaza opening to the 18th Street pedestrian bridge and 100 feet from the light rail podium, a large roof deck with a year-round outdoor kitchen facility and a striking view of Coors Field.
Alta City House is Wood Partners’ third development in the Denver area. The company’s most recent project, Alta Aspen Grove, is the first market rate apartment community of stick frame construction to be certified under LEED for Homes in Colorado.
Wood Partners will lead the construction effort. Paul T. Bergner Associates is the architect, Harris Kocher Smith is the civil engineer and Norris Design is the landscape architect and land planner for Alta City House.
Natalie Dolce Natalie Dolce, editor of the West Coast region for GlobeSt.com and Real Estate Forum, is responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, Natalie was Northeast bureau chief, covering New York City for GlobeSt.com. Dolces background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats Arthur Frommers Budget Travel magazine, FashionLedge.com, Co-Ed magazine, and has also freelanced for a number of publications including MSNBC.com and Museums New York magazine. Contact Natalie Dolce.