Work could begin by the end of this year or early 2021 on a new 5-floor apartment complex targeting the short-term rental market in downtown Denver.
The project is being developed by Forbes Partnership, also of Denver, and will include 116 residential units.
Slated for 2534 18th Street in the city’s Highland neighborhood, just to the north of the South Platte River, the project will include a mix of studios and one- and two-bedroom units.
As designed by the Englewood-based Pappas Architecture + Design, the project will belong to the hospitality company Sonder of San Francisco, which uniquely specializes in apartment spaces with hotel-quality services.
Launched in 2013 in Montreal, Sonder currently owns more than 9,000 rental units worldwide, and is currently building new properties in Dallas, Miami, and New York.
Denver’s Highland neighborhood, for decades known for its 19th century mansions, has in recent years has seen an explosion of new apartment complex growth. Average Highland rents for a one-unit apartment are currently just above $1,400 a month.
By Garry Boulard