D.H. Friedman Properties has announced that they are moving forward in developing a highly-anticipated transit-style development in the Stapleton neighborhood in Denver. According to building plans filed with the city, the 35 acre, 120 unit condominium project is supposed to be one of the first ventures of the type in various years in the city.
Many developers have been hesitant to get projects like this underway in the last few years because of concerns over Colorado's construction-defect laws. According to the developer working on this project, this lull in construction has created enormous anticipation and need for this type of residential community.
Plans for this development show that the community's developers intend to have a number of buildings erected on the campus they've purchased. Among those, they intend to build a 190,000 square feet commercial office building, an apartment building with a 300 unit capacity, and a five-story condo high rise. They intend to weave into the development retail space as well.
Developers look to tie together this 60,000 square feet worth of retail space by placing a plaza at the center of it all. They're looking to make this space easily accessible via the commuter rail via the Central Park stop on Regional Transportation District's preexisting route. They might even later add a hotel to the campus.
Now that the plans have been approved for the project by the city, the developers say they are looking for the building to get underway, at the latest, by early second quarter of next year. They expect to be finished with the project by mid-2019.
As for the developers, their plans don't stop there. They see the area as having endless potential as far as future development projects are concerned.
If you're a developer or real estate investor looking to learn more about your rights and responsibilities or need help in litigating a dispute, a Denver real estate litigation attorney can provide the necessary guidance in your legal matter.
Source: The Denver Post, "Office building, condos, apartments to kick-start Central Park Station development in Stapleton," Emilie Rusch, June 06, 2017