By Andrew DodsonReporter, Denver Business Journal
With 35,000 people working at Denver International Airport and more job growth on the way, Mike Gerber figured it was a good opportunity to be one of the first developers to put up housing at Peña Station Next, an upcoming smart-city neighborhood popping up at the last RTD train stop before the airport.
And the market’s response has exceeded his expectations. Gerber, principal and co-founder of MGL Partners, says his firm’s first apartment development — the 218-unit Elevate at Peña Station — is nearly 40% leased since it opened in March, which is ahead of projections.
That number gives him — and other developers — enough confidence in that market near the airport to launch into other projects at the 220-acre site, even before any amenities, like restaurants and retail shops, open up.