DU's $143 Million Transformation
Residential developers poised to meet demand
University Hills and University Park are Denver’s next neighborhoods to “pop,” with numerous new residential and commercial projects underway. With the recent news that the University of Denver’s campus will be transformed into a $143 million metropolitan center, the desire to live in these established communities will only continue to grow.
Beyond the appeal of some of Denver’s most charming city streets and desirable places to call home, these mature neighborhoods will benefit from the transformation of the campus into a vibrant destination, complete with restaurants, shops and a rumored hotel. The project, dubbed "The Denver Advantage Campus Framework Plan," is centered on the construction of three new on-campus buildings, a bike-share project and a shuttle service. The overall plan includes spaces with expected outward-facing retail and restaurants, bringing new concepts to the people who live near DU’s campus.
With this news, residential developers are anticipating even more interest among people to move into the area.
As a result, a number of projects are poised to fill the demand:
Located in the Observatory Park neighborhood, this newly announced development includes 20 residences in five different buildings, ranging in size from 1,731 square feet to 1,885 square feet. Pricing starts at $525,000. Located between downtown Denver and the Denver Tech Center, the development consists of 20 classically finished, open concept three-bedroom/3.5 bath townhomes, featuring high-quality timeless finishes, with close proximity and easy access to I-25 and the Denver Tech Center, light rail, the University of Denver campus and Observatory Park.
Jordon Perlmutter & Co. is developing a five-story, 112-unit apartment building within walking distance of the Yale Light Rail Station, west of Yale Avenue and I-25. About two-thirds of the apartments will be one-bedroom units; the other 38 or so will have two bedrooms, The complex also will include a cyber café, fitness center, pool table lounge and a rooftop deck.
COLORADO STATION MIXED-USE REDEVELOPMENT
Colorado Station has had a master plan for mixed-use redevelopment around the light rail station since the opening of the Southeast Denver light rail corridor in the mid-2000s. That plan is moving closer to completion with the finanlizaiton of a 450,000-square-foot office building with ground-level retail space this year. The station has always been an entertainment hub for central Denver, with a United Artists Multiplex Theater and Denver’s only Dave & Busters. A planned 270-unit residential building is also expected.
The Dinnerstein Companies acquired the Criterion Shopping Center that formerly housed Amish Furniture Gallery at 2154 S. Colorado Blvd. last summer. The Houston-based developer is building a five-story, 350-unit apartment complex.
According to the Sattler Homes company website, currently two of the six lots located in University Hills are open for reservation. Both feature contemporary designs that enhance the Colorado lifestyle with indoor-outdoor living space, including large covered patios, porches and balconies. These homes also incorporate a variety of exterior materials like shiplap, stucco, brick and natural stone.
WESLEY AVENUE SENIOR APARTMENTS
Wazee Partners LLC intends to build a 43-unit residential complex in University Hills. The company wants to replace an existing 10,600-square-foot medical office building with a four-story, 45,800-square-foot senior living facility.
Marion Place includes three single-family homes and 17 townhomes at Asbury and Downing streets. The property is under construction and is expected to be completed in late 2018. Approximately half of the homes have sold.
Beyond the transformation of the University of Denver campus and the resulting residential development, there are a number of other projects underway or newly completed in this thriving part of the city. Some of these developments include a farmers market at University Hills, the replacement of the Beaujos Pizzeria at the University Hills Shopping Center, the opening of the 16-story Tower III office building at the Colorado Center, the opening of a new HealthONE urgent care center and a remodel of the original Chipotle’s restaurant at 1644 E. Evans Ave.
Needless to say, there are plenty of reasons to call University, University Hills and University Park home.