Uptown Luxury Apartment Tower Will Complement Central Business District
Denver (Feb. 17, 2015) – Simpson Housing, Novare Group, and Batson-Cook Development Company broke ground today on a 26-story luxury residential high-rise tower on the corner of Broadway and 18th Avenue in uptown Denver.
SkyHouse Denver is a mixed-use project featuring 354 apartment homes ranging from studio to two-bedrooms and 6,900 square feet of street-level retail space. The signature SkyHouse on the top floor of the building includes a club room, swimming pool and fitness center. The building is targeting next-generation professionals who are choosing to live in urban centers close to public transportation, employment centers and cultural institutions.
“We are excited to be working with Simpson Housing and Batson-Cook Development Company to add SkyHouse Denver to the fabric of downtown,” said Jim Borders, President and CEO, Novare Group. “Denver has tremendous momentum including a strong economy and burgeoning downtown residential market. The Mile High City has been on our radar for several years, and we are thrilled to have an excellent location that fits perfectly with what our residents want.”
JP Morgan and US Bank are providing construction financing for the project, and Simpson Housing, Batson-Cook Development Company, and NGI Investments, LLC, led by Jim Borders, and are providing equity. Batson-Cook Construction and Swinerton Builders are the general contractors. The building is designed by Smallwood, Reynolds, Stewart, Stewart and Associates.
The apartment homes will all have nine foot ceilings with floor to ceiling glass, quartz countertops, hardwood floors, stainless steel appliances and porcelain tile. In addition to the SkyHouse amenity deck, the SkyHouse Denver will have vehicle charging stations, bike storage, bike kitchen, a dog walk area and a dog washing station. The sustainable building is being built to Energy Star standards.
The tower is located in the Central Business District of Denver and is near MetroRide and the 16th Street MallRide, both of which provide direct access to Union Station. It is also in close proximity to the Light Rail, connecting SkyHouse Denver residents to many of the major employment centers in the Denver region. The uptown location is also within walking distance of the state capitol complex, the Denver Art Museum and City Park, home to the Denver Zoo and the Denver Museum of Nature and Science.
SkyHouse Denver is the 14th SkyHouse-branded apartment community in the United States following projects in Dallas, Houston, Austin, Atlanta, Tampa, Orlando, Charlotte and Raleigh. The program represents more than $1 billion in new development since its inception in 2012. The first SkyHouse outside of the Southeast, SkyHouse Denver will generate more than 500 temporary construction jobs and about 50 permanent jobs when finished. It is expected to be delivered in mid 2016.
About Simpson Housing
Simpson Housing is a national, fully-integrated real estate development and portfolio management firm primarily focused on the multifamily market. Simpson builds and operates high-quality, residential communities throughout the United States. As one of the largest privately held residential developers and managers in the nation, it is organized to deliver a comprehensive range of real estate services – including development, property management, construction, acquisition, marketing, and financing. Visit www.simpsonhousing.com for more information.
About Novare Group
Novare Group is a real estate development and investment company headquartered in Atlanta, Georgia, consisting of several investment and operating companies, including Novare Group Holdings, LLC, NGI Investments, LLC, Novare Events, LLC, HomeOwners Advantage, LLC, and TWELVE Hotels and Residences, LLC. Since 1995, Novare Group has developed over 11,000 high-rise residences in 35 buildings in the United States. Learn more by visiting www.novaregroup.com.
About Batson-Cook Development Co.
Founded in 1963, Batson-Cook Development Company is a wholly owned subsidiary of Kajima USA. It is a fully integrated real estate organization providing development and capital solutions primarily through partnerships on commercial real estate projects in the Southeastern United States. Based in Atlanta, Georgia Batson-Cook Development Company offers a wide variety of real estate services from development and construction, to equity and credit enhancements, to brokerage and property management. Learn more by visiting www.batsoncookdev.com.