Construction is underway on a 72-unit affordable housing community called The Tapestry in Denver’s Uptown neighborhood.

Housing developer Gorman & Co. and the Colorado Health Foundation broke ground on the project at 1799 Pennsylvania St. on Dec. 15. Construction is estimated to finish in late 2027.

The Tapestry will offer one-, two-, three- and four-bedroom units for households making between 30% and 80% of the area median income. The five-story building will feature an early childhood education center, a community clinic and on-site resident services provided by local nonprofit Hope Communities.

The city committed a $3.2M cash flow loan that will be funded through linkage fees, according to a city press release.

SALES

Newmark facilitated the sale and financing of Bucking Horse Apartments, a 323-unit community in Fort Collins. The facility, located in the 160-acre master-planned Bucking Horse neighborhood, consists of 22 buildings with one-, two- and three-bedroom apartments.

Newmark's multifamily capital markets group represented the seller, an affiliate of Equus Capital Partners, and Newmark’s debt and structured finance group secured the financing on behalf of the buyer, The Milestone Group.

Bucking Horse Apartments has maintained high occupancy rates, averaging 4.8% vacancy since 2022, according to Newmark.

CONSTRUCTION AND DEVELOPMENT

Origin Investments, a multifamily real estate fund manager, and developer Confluence Cos. announced a joint venture to develop the 298-unit Brickyard Apartments in Castle Rock. The project is part of the 31-acre planned development The Brickyard.

The apartments will include studios and one-, two- and three-bedroom residences with rent ranging from $1,600 to $3,150 per month.

The development also features roughly 38K SF of commercial condo space. So far, over half of the commercial condo space is under contract or letter of intent to sell to various local businesses, including three new restaurants.

THIS AND THAT

New restaurant Madeline will open in spring 2026 in Denver’s Country Club neighborhood. Madeline will take over the space at 1313 E. Sixth Ave., which formerly housed Fruition, a farm-to-table restaurant that closed at the beginning of 2025 after 18 years.