Continuum Partners is teaming with a national developer to more than double the number of homes at its Belmar development within the next two years.
Trammell Crow Residential plans to build 307 apartments and 75 condominiums on 4.5 acres on the Lakewood development’s south end. The project includes a clubhouse with a fitness center, coffee bar and conference center.
Average rent for the apartments will be $1,254. Condos will sell for about $175,000 to $425,000, and Trammell Crow Residential has contracts for 40 percent of the units, said Scott McFadden, the company’s senior managing director.
It’s the largest residential development so far at Belmar. McStain Neighborhoods built 132 row homes with prices starting in the upper $200,000 range. Ninety-four of the homes are occupied or under contract. Continuum has built 109 apartments, which are fully occupied.
High demand has prompted Continuum to accelerate the rate at which residences are developed, said Tom Gougeon, chief development officer.
“Our presumption when we started was that people would need to see a lot of the real fabric of the place and the retail program before they would be wild about the housing choices,” he said. “Now, it’s just a matter of us keeping up with demand.”
Atlanta-based Trammell Crow Residential is developing several projects in the Denver area, primarily near future light-rail stations. Projects include:
Vantage Pointe at the northwest corner of U.S. 36 and Northwest Parkway in Broomfield.
Alexan Lincoln Station and Lincoln Square Lofts, both near the future southeast light rail’s southernmost stop, Lincoln Station.
Diamond at Prospect, an affordable-housing rental project at 30th and Fox streets.
The Reserve at Thornton at the northwest corner of Thornton Parkway and Colorado Boulevard.
While Belmar isn’t on a light-rail line, it is expected to have easy access to the stations at Wadsworth Boulevard and 13th Avenue and the Denver Federal Center.
“We’ve talked about the ways of using public transit along the Alameda corridor, although it’s not part of the FasTracks proposal,” Lakewood Mayor Steve Burkholder said.
Options being discussed include running a trolley line along Alameda to starting a shuttle service, Burkholder said.
Staff writer Margaret Jackson can be reached at 303-820-1473 or mjackson@denverpost.com.
