Fore Property to build apartment complex in the East Gates development
Colorado Real Estate Journal
The recent purchase of a 3.1-acre site in the
East Gates development along Broadway by Fore Property is to soon be followed
by construction of a 260-unit apartment complex on the site by the
company. To be completed in 19 months, the 4-story complex will offer
unit sizes of 651 to 1,467 SF and is to have an expected rent of $1.50/SF.
To have a LEED Gold rating, its location at the northeast corner of Broadway
and Mississippi places it midway between the light-rail stations at Broadway
and Louisiana, allowing tenants equal access to downtown and the Denver Tech
Center. The property was purchased from LUI Denver for $6.8 million, or
$48/SF. Agency for the seller was provided by Steve Odell and Chris Cowan of ARA (formerly
Apartment Realty Advisors).