RiNo’s in the seven-figure home club.
First-time developers Tom and Brooke Gordon will break ground this summer on 23 new, high-dollar RiNo row homes. The $20 million project is the first phase of a development they’re calling DriveTrain, which will cover more than 4.5 acres along Brighton Boulevard.
“This is the only high, high-end, for-sale project along the river in RiNo,” Tom Gordon said. “There’s nothing like it.”
The new homes will start at $1.15 million and cap out at about $1.5 million.
River Row Homes will take shape on the eastern end of a property the Gordons bought in 2014. The entire site covers more than 4.5 acres between Brighton Boulevard and Arkins Court. The Gordons paid $11.54 million for the land, according to Denver city records.
The homes will run from 2,100 to 2,500 square feet. Each will be three stories tall with three bedrooms and two-story garages. The units will have some outdoor space, Tom Gordon said, in either a balcony or rooftop deck.
Brooke Gordon said she doesn’t expect any particular age or demographic of buyers to swarm to River Row. Instead, she said, the common thread between buyers will be the desire to stay near the city center in River North.
“I think it’s for more of an urban mindset, people who are interested in what’s going on in the galleries, in the restaurants and don’t want to live necessarily in a suburb or outside the middle of the city,” she said.
Sprocket Design Build will be the architect and general contractor for River Row Homes. FirstBank is providing the construction loan.
The Gordons are hosting a release party for the development on May 5 at RedLine Denver, and hope to have all of the homes move-in ready by December 2017. Deviree Vallejo and Wendy Glazer are the Realtors in charge of selling them.
River Row Homes will be the second upmarket townhome project to start construction in RiNo this year. Invent Development Partners is planning homes that will top out at about $900,000 on the other side of the railroad tracks at 34th and Walnut streets.
The Gordons are pondering what to do with the other three-plus acres they own just west of River Row. They’ve enlisted OZ Architecture to draw up a development plan for DriveTrain, a mixed-use development in the works for that site.
“We’re looking to do restaurant and retail space around an interesting plaza, and then have condominiums above that, with a couple of things still undecided,” Brooke Gordon said. “We are working with the architects at the moment. We still have some possible surprises coming in.”