Original Article on Mile High CRE.
DENVER – East West Partners, a Denver-based developer devoted to building, selling, and managing high-quality real estate, and its partner Ascentris, a Denver-based real estate private equity firm, announced today that The Coloradan has topped out and is on schedule for completion in Q4 2018. The Coloradan is a 334-unit condominium property located directly behind Denver’s Union Station and across the street from Denver’s recently-opened flagship Whole Foods. This construction milestone coincides with a sales milestone for the building as well, with The Coloradan having recently sold its 215th residence and reaching $150M in sales volume.
“We’re fortunate to start 2018 with two significant milestones for The Coloradan,” said Brad Arnold, vice president of sales and marketing for The Coloradan. “With the topping out, we are one step closer to welcoming residents into their new homes later this year, and with incredible sales activity over the holidays, we’re now 70 percent sold out.”
East West Partners, Ascentris and the rest of the project team, including general contractor GE Johnson Construction Company, marked the topping out on January 19th. The final steel beam was signed by the project team and placed on the top floor.
“The urban setting of The Coloradan is not only a great location to live in, but is also an exciting place to perform construction,” said Dan Starr, president of GE Johnson Construction Company. “This milestone is a testament to the coordination efforts of our project team and the collaboration we have with all of the project partners.”
With the recent sales milestone, The Coloradan now has 84 one-, two- and three-bedroom residences as well as two penthouses still remaining for sale. Residences are priced from $575,000 to $1.2M and the two penthouses are $3.3M and $3.35M. In addition, The Coloradan is one of the first buildings to be constructed under the revised Inclusionary Housing Ordinance (IHO) enacted by Denver City Council in August 2014, with 10 percent of the residences dedicated to providing affordable housing. The Coloradan’s 33 affordable homes will be released later this spring.
The first for-sale condominiums in the Union Station neighborhood, The Coloradan will boast outstanding views of downtown, Coors Field and the mountains, and will feature thoughtfully-curated ground floor retail and restaurants. Resident amenities include a rooftop pool deck and club room, a fitness room, an owner’s library, and garden terrace. In addition, The Coloradan will be LEED Gold and Certified Healthy, a Denver-based certification program that recognizes exceptional projects that integrate stringent wellness standards and encourage healthy lifestyles.