Trammell Crow Co. and Village Homes are teaming up to build 74 condominiums at Lowry.
The developers will break ground this week on the $27 million first phase of Luce, which includes 41 units in the first two four-story buildings at 33 Rampart Way.
It’s Village Homes’ first project in the city of Denver since the 1990s and only the second residential project in the metro region for Trammell Crow, which developed the Louisiana Station Lofts along Buchtel Boulevard between Washington and Clarkson streets.
“We see it as the beginning of bigger involvement in the city and first-ring suburbs,” said John Osborn, chief executive of Village Homes.
Village Homes typically develops single-family homes in the suburbs, and Osborn wants to balance that with urban infill development.
Designed by Denver-based Humphries Poli Architects, Luce will be located within walking distance of Lowry’s Town Center.
The homes will range from 1,700 square feet to 2,400 square feet and be priced from the $500,000s to the $800,000s.
Better known for developing shopping centers, office and industrial buildings, Trammell Crow selected Village Homes as a partner because it combines both building and marketing expertise, said Bill Mosher, area director and principal of Trammell Crow.
Typically, condominium developers hire real estate brokerage companies to market their properties.
“We have equity in this project,” Osborn said. “That speaks to a higher level of service and communication.”
Trammell Crow and Village Homes are looking at a number of other locations, including several around proposed light-rail stations, Mosher said.
Staff writer Margaret Jackson can be reached at 303-954-1473 or mjackson@denverpost.com.
