Condo Development To Start In LoHi
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Elevation Capital Partners will break ground this spring on a new boutique condominium project in Denver’s LoHi neighborhood.
At 1908 West 33rd Ave., Ivy Residences will offer 26 residential units that are surrounded by a plethora of food, lifestyle and entertainment venues, as well as being walkable to many downtown Denver hot spots. Pricing for the Ivy will range from the low $300Ks to the $750Ks.
“When this opportunity presented itself, we knew we wanted to create something unique,” Elevation Capital Partners principal Bryan Fitzgerald said. “But we also wanted to create something that would enhance the neighborhood, be built to last and something we could be proud of for decades to come.”
Designed by Craine Architecture, the five-story building will have parking at grade and four levels of residential units above. Ivy Residences will be a mix of studio, one- and two-bedroom units, as well as four penthouse condos with views in all directions. All units will have open floor plans, large outdoor spaces, parking and contemporary interiors.
“Although there are some really great larger-scale condos coming out of the ground right now, we plan to offer similar styling, architectural interest and quality of construction in a more intimate, boutique-style building,” Fitzgerald said. “Consequently, our residences will be a price point below those projects, both in initial purchase price and annual ownership costs.”
For the better part of the last decade, condo construction has all but come to a halt in Denver because of the state’s onerous construction defects laws, which were reformed during the last legislative session.
“After a long stretch of apartment development in Denver, there’s a void in the market for this type of product — an ownership alternative to paying high lease rates in rental apartment living,” said PorchLight Real Estate Group broker Taylor Lawton, a partner in the project.