The site of the planned development sits at the intersection of Walnut and Downing Streets. (Matt Geiger/BusinessDen)
New apartments and retail may be coming to RiNo.
Denver-based Steele Properties submitted plans to the city last month calling for the development of a 60,000-square-foot, 40-unit income-restricted apartment building where Downing and Walnut Streets meet.
A Steele Properties spokeswoman declined to comment, noting the proposal is in the early stages.
The land at 3707 Walnut St. is owned by an affiliate of Denver-based Elevation Development Group, which purchased the 13,000-square-foot parcel in 2017 for $1.2 million. In its filing to the city, Steele Properties said it hopes to buy the land in November 2025 if it is able to secure low-income housing tax credits for the project.
Steele Properties’ plans call for about 5,000 square feet of retail or amenity space on the ground floor of the proposed six-story building. Units would be restricted to those making between 30 percent and 60 percent of the area median income.
The property would come with just 12 parking spaces. No parking is required due to its proximity to the 38th and Blake light-rail station.
Steele Properties has 90 holdings across 20 states with nearly 9,000 units between them, according to its website. The company specializes in acquiring and rehabbing income-restricted apartments, and has Colorado holdings from Greeley to Trinidad.
The site of the planned development sits at the intersection of Walnut and Downing Streets. (Matt Geiger/BusinessDen)
New apartments and retail may be coming to RiNo.
Denver-based Steele Properties submitted plans to the city last month calling for the development of a 60,000-square-foot, 40-unit income-restricted apartment building where Downing and Walnut Streets meet.
A Steele Properties spokeswoman declined to comment, noting the proposal is in the early stages.
The land at 3707 Walnut St. is owned by an affiliate of Denver-based Elevation Development Group, which purchased the 13,000-square-foot parcel in 2017 for $1.2 million. In its filing to the city, Steele Properties said it hopes to buy the land in November 2025 if it is able to secure low-income housing tax credits for the project.
Steele Properties’ plans call for about 5,000 square feet of retail or amenity space on the ground floor of the proposed six-story building. Units would be restricted to those making between 30 percent and 60 percent of the area median income.
The property would come with just 12 parking spaces. No parking is required due to its proximity to the 38th and Blake light-rail station.
Steele Properties has 90 holdings across 20 states with nearly 9,000 units between them, according to its website. The company specializes in acquiring and rehabbing income-restricted apartments, and has Colorado holdings from Greeley to Trinidad.
