The real estate space in Denver is blooming with a range of projects being announced this year. Joining the list are the Revesco Properties and Alpine Investments’ multifamily buildings, which will be ready to be opened in two prominent Denver neighborhoods this month. The Denver-based developer had previously completed the city’s River Mile project.
While Revesco Properties will be launching the boutique apartments in Golden Triangle and Berkeley, work is ongoing for a third site in Bonnie Brae.
Highlights
- Revesco Properties is bringing two new multifamily buildings to Denver this March.
- Construction for a third building, which is under the same Akin project, will start in April.
- Alpine Investments is Revesco’s partner in the Denver-based project.
Revesco’s Akin Project
The latest Denver-based multifamily project is being developed by a collaboration between Revesco Properties and Alpine Investments, Denver’s real estate investor and developer. Named Akin, the two boutique apartments will be opened in Golden Triangle and Berkeley.
A third site will be open for construction by Revesco in Bonnie Brae. Developers will break ground for the project in April.
Promising sophistication, the Akin properties are ready with 46 to 100 units of boutique apartments. Revesco Properties states that the collective cost for the three multifamily buildings under this new real estate project in Denver is $112.4 million.
Stressing the value of Akin, Revesco’s CEO, Rhys Duggan, said, “We think [Akin] fills a need in the marketplace. I think the need is for a smaller, more thoughtful and well-curated multifamily product that’s hyper-well located and is not what Denver has been very good at building the last decade.”
Duggan also highlighted that Akin has been expertly developed to offer Denver residents a different building type than the existing 300 to 400-unit buildings.
The Golden Triangle Project
The Golden Triangle, Akin (Source – @alpineinvestmentslinkedin)
This boutique apartment complex by Revesco Properties is a 97-unit project with 11 stories. Located at 955 Bannock St., the units have everything from 720 sq. ft. studios to 1,282 sq. ft. two-bedrooms. This Denver-based project has been designed by OZ Architecture. Construction is by Pinkard Construction.
The Berkeley Project
Revesco Properties’ latest multifamily unit in Denver’s Berkeley neighborhood has three stories and 84 units. Located at 4560 Tennyson St., it will offer residents both studios and one and two-bedroom options. The designer for the Berkeley project is Santulan Architecture and Pinkard Construction is the constructor.
Impacts of Revesco’s Project on Denver’s Retail Space
The Bonnie Brae Project Under Akin (Source – @alpineinvestmentslinkedin)
The Berkeley-based boutique apartment under Revesco’s latest project has a retail space of almost 10,000 sq. ft. While no announcements have been made, it is expected that the future retailers in the location could be a mix of boutique clothing, food & beverage, and fitness verticals.
Additionally, Bunn talked about the higher retail demand at their project’s third location in Bonnie Brae. “Demand for the retail at Bonnie Brae is probably 2x what we have seen at Tennyson. We’re trying to build Akin product where people want to be.”
It should be noted here that located at 740 S. University Blvd., Akin’s Bonnie Brae complex will have 46 units with a retail space of 9,000 sq. ft.
Uncovering the Background of Akin
The beginning of Akin goes back to 2018 when Alpine Investments bought an office building of two stories at 955 Bannock St. Three years later. It sold the site to a limited partnership related to itself and Revesco Properties for $4.75 million.
When Alpine Investments purchased the site, it had plans to use it as an office building. However, according to Bunn, due to Covid and remote work, the 955 Bannock St. project did not work out. After this, the Denver-based developer began redesigning it as a multifamily project. Revesco joined in, and Akin came into being.
Revesco’s Future Plans for Akin
The multifamily development project, Akin, is emerging as an ambitious initiative of Revesco Properties as Duggan revealed that it is planning to spread it to 10-12 more locations in the coming four years. In this regard, Cherry Creek, Littleton, Fort Collins, downtown Boulder, and Golden are some names that are coming up.
Other than this, Alpine Investments is developing a retail building and a seven-story office in Cherry Creek North. Another 23-story multi-family tower is being built by the developer at 303W 11 Ave.
By focusing on the creation of boutique apartments, the Akin project by Revesco Properties can offer improved personalized living options in Denver. Along with Akin, the future plans of the developer highlight its emphasis on uplifting the urban development of Denver.
