surging denver condominium market to see construction of new complex

On a tree-lined Denver street, populated with multi-story apartment buildings, plans are underway for the construction of a new 249-unit condominium project.

The 12-story building is being developed by the Denver-based Nava Real Estate Development under the name of Nava Uptown LLC, and will go up on a 1.0-acre site at 575 East 20th Avenue.

The project is only the latest development responding to a pent-up demand for new condominium space in metro Denver.

Purchased from the Denver Housing Authority for $7.1 million by Nava, the site is currently vacant, but will see work beginning on the condo project next year.

Originally proposed last year, in a site development plan submitted to the City of Denver for only 188 units, the new development will feature efficiency units, as well as one, two, and three- bedroom units.

The modern, glass-walled project is being designed by the Denver-based Davis Partnership Architects. In a statement, David Daniel, a principal at Davis Partners, called the development a “pioneer condominium project in the heart of our city,” and lauded Nava’s dedication to “quality in the built environment.”

The project will be built for WELL Building Standards, which mandates health and wellness features in building design and construction.

The new East 20th Avenue project comes along as the average price for condominium units, according to the Denver Metro Association of Realtors, has reached the $300,000 mark.

By Garry Boulard

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