A 17-story, 250-unit apartment building is set to break ground this month at Belleview Station in the Denver Tech Center.
ABS Ventures LLC, an affiliate of Dallas-based developer Trammell Crow Residential, purchased nearly an acre at the northeast corner of Newport Street and Chenango Avenue on March 31 for $3.46 million, according to public records. The deal works out to $87 a square foot.
A local TCR executive said the company will co-develop the project, also slated to have about 7,500 square feet of retail space, with Denver-based Prime West.
“We’ve been working on this for a while,” said Jarvie Worcester of Trammell Crow. “Prime West originally had control of the site and wanted to bring a multifamily developer partner on. That’s how it came to us. And you know (Prime West) has familiarity in Belleview Station.”
Prime West built two nearby office buildings, One Belleview Station and 6900 Layton. The latter is immediately north of the future apartment building.
Worcester said Shears Adkins Rockmore is the project architect. Milender White will be the general contractor.
“We’re all zoned up, have an approved shoring and grading permit, and we’re about there on our initial phase 1 foundation permit,” Worcester said. “We plan to break ground April 19.”
Trammell Crow purchased the land from Belleview Station master planner Front Range Land and Development Co., a Glendale-based company that lists Louis P. Bansbach as its registered agent.
“They were fantastic to deal with,” Worcester said of the Bansbachs. “Very involved in creating the space and the opportunity.”
Trammell Crow also recently purchased the South Broadway block anchored by EMW Carpets & Furniture, where it plans a five-story complex. And it’s got another project in the works in Aurora near Stanley Marketplace.
Prime West, meanwhile, hasn’t previously developed apartment buildings, but it’s making a push into the sector. The company purchased another development site in Sunnyside back in December.
Elsewhere in Belleview Station, Denver-based Vectra Bank is building itself a new headquarters building. Multiple hotels have also been proposed.