With the ink dry on a seven-figure land deal, another Texas-sized apartment complex is almost ready to go in RiNo.
San Antonio-based Lynd Co. last month bought a surface parking lot immediately east of Industry with plans to build an eight-story, 277-unit apartment complex next to the young RiNo shared office building.
“We really liked the opportunity to work with the Industry building next door and designed a project that plays off of the location of Industry,” said Jim Bruner, Lynd senior vice president of development. “We’re working on creating an interactive, 24-hour work, live and play area all within a block of that RiNo area.”
Lynd paid $3.8 million for the 1.8-acre site at 3063 Brighton Blvd. The company plans to begin construction by the end of the year. Bruner estimates it will take about 21 months to build the apartment project.
Bruner declined to say what the project will cost to build or give rental rates. He said he’s hoping the project will appeal to younger renters, particularly tenants who work next door.
“In our minds, it is a younger group,” Bruner said. “But the demographics are changing all over Denver, so it wouldn’t surprise us to see some empty nesters moving back in.”
The project includes a mix of studio, one-bedroom and two-bedroom apartments with a couple of two-bedroom walk-up townhomes. The apartments will be spread between six floors atop a two-story parking structure.
“We really wanted to design the two-level parking garage to elevate the building above the Industry building, so we could have unobstructed views of downtown,” Bruner said.
Chicago-based Valerio Dewalt Train Associates designed the Industry apartments. HKS is the project’s civil engineering firm, and Valerian is the landscape architect. Lynd has yet to name a general contractor.
Industry was co-founded by Sean Campbell, Josh Marinos and Jason and Ellen Winkler. The planned office, residential and restaurant complex centers on a 153,000-square-foot shared office building that opened last year.
Another 73,000 square feet of office space is currently under construction at Industry. Plans also call for a brownstone complex in addition to Lynd’s apartment project.
The Industry project will be the second Denver apartment deal for Lynd Co. The firm is currently building the Joule in the Golden Triangle, a 270-unit tower at 1000 Speer Blvd. Bruner said Lynd is keeping close tabs on the Denver market for more apartment projects.
“There’s a focus on Denver; we’re never going to be the largest developer in town, but our goal would be to start one or two deals a year in Denver focusing on the urban infill areas,” he said. “Young people want to be in Denver, and companies want to be there because young people want to be there.”