The fate of its project proposed for the Carmen Court site remains unclear, but Hines is moving forward with a different development in Denver.
The Houston-based developer said this week that it and Chicago-based partner Cresset Capital Management are commencing construction on Residences at RiNo, a 397-unit apartment complex at 4290 Brighton Blvd.
The companies purchased the approximately 2.5-acre site, which is immediately west of the Mission Ballroom concert venue and within a federal opportunity zone, in mid-2019 for $21 million.
It’s located within Denver-based Westfield Co.’s broader North Wynkoop project, which so far includes Mission Ballroom and an office building, with plenty more land yet to be developed.
Hines and Cresset said the building could welcome its first residents in the third quarter of 2022. Apartments within the 11-story structure will range from 542 to 1,715 square feet. Amenities will include a heated pool, large garden area, dog park and fourth-floor coworking space.
Seventeen of the units will be income-restricted to those earning up to 80 percent of area median income. The building will also incorporate 14,500 square feet of retail space.
Residences at RiNo is the fourth joint venture between Hines and Cresset and the first in Denver.
Zeigler Cooper Architects is the design architect. Parisa O’Connell Interior Design is overseeing interior design of common areas. Design Workshop is the landscape architect. Modern Constructors is the general contractor. Northwestern Mutual provided construction as well as permanent financing and equity for the project.
Hines’ most recently completed project in Denver is the 40-story office tower at 1144 15th St.
The company wants to build a senior living complex on the site of Carmen Court, a 95-year-old condo complex at 900 E. 1st Ave. But the project could be scuttled if City Council designates the structure a landmark next month, as some residents have requested.
Residences at RiNo would have been Hines’ second project underway in RiNo. But the company and partners delayed the start of construction on their T3 office building at 3500 Blake St. when the pandemic arrived weeks after a formal groundbreaking ceremony.
Other multifamily projects under construction in RiNo include San Francisco-based Carmel Partners’ Drivetrain, Denver-based Zocalo Community Development’s Edit at River North and Denver-based Zakhem Real Estate’s The Collective at 3701 Marion St.