A section of Denver known for its historic mansions and low rental vacancy rates may soon see the construction of a new apartment complex.
The Atlanta-based Gables Residential, which has offices in Denver, has announced plans to build an eight-story apartment complex on a one-acre site in the Capitol Hill neighborhood.
The project will more specifically go up at the intersection of E. Eighth Avenue and Sherman Street, on a block surrounded by offices and apartments.
To be designed by Davis Partnership Architects of Denver, the complex will feature just under two hundred units of varying sizes, common space, and both above- and below-ground parking.
Gables Residential has already developed half a dozen similar projects in the metro Denver area. The company’s projects typically include swimming pools, sundecks, lounges, extensive lobby space, and fitness centers.
An exact construction schedule for the new complex has not yet been announced.
One of the oldest and, for decades, most elite neighborhoods in Denver, Capitol Hill was initially defined by the existence of the gold-domed Colorado State Capitol, which was completed in 1901.
The surrounding neighborhood experienced a first significant wave of residential construction in the 1920s, with rental property construction following in the immediate decades after World War II.
In the last decade or so, many of those properties have been re-purposed into higher-end apartment complexes where units are currently listed at just over $1,600 a month.
By Garry Boulard
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