Getting your player ready...
Of all the people wanting to be in restaurant-loaded Highlands, no group is keener on living there than millennials – the generation with a particular liking for dining out, and less inclined to spend time driving their cars places. In a year when vacancy rates are low, apartments are in demand – no place so much as in the Highlands, where builders have been slow to deliver new offerings. But early this year Darell Schmidt of Allanté Properties started construction on 68 units well designed for millennials’ tastes, six blocks from restaurant row at 32nd and Lowell – and starting today you can get on a waiting list for one of those expected to deliver around year end.
Highland Place, at W. 38th and Julian Street, is designed to draw not only millennial renters, but baby-boomers, as well, according to Darren Everett, president of BLDG Management, handling residential leasing for Highland Place. But rents at Highland Place, ranging from as low as the $900s, are expected to be particularly alluring to the younger demographic – shown by studies to be less inclined to buy homes than older buyers are, and particularly sensitive to pricing. “There are a lot of units coming on line in Denver, but there are certain markets around town where supply is very constrained; and West Highlands is a great example of that,” Everett added. “This developer was able to get out of the ground early, and that’s proving to be quite an advantage, now. Up to now, if you wanted to live in West Highland with all of those attractions, your choices were expensive single family homes, or a single high-rise building built back in the 1960s.” “We expect lease-up of these apartments to be very strong,” Everett adds. With millennial demand in mind, Allanté conceived the project with around 80% of units devoted to studio and one-bedrooms – including some creative ‘micro-suites’ at 378 square feet, still with a full kitchen, bath, and personal washer-dryer. That keeps prices down, but also appeals to younger buyers’ preference for privacy. Meanwhile, millennials are big on gear for the Colorado lifestyle – bikes, skis, snowboards and kayaks – and Allanté has anticipated that with storage space in the form of large walk-in storage units. “Not a lot of new-builds have ample storage,” Everett adds – noting that the older renters will like that feature as well. West Highland resident Krystal Weger, meeting with prospective renters on behalf of BLDG, can show you plans for units, including some roomy 2-bedrooms to around $2,000 per month, along with designs for a landscaped community courtyard with outdoor kitchen, communal grills, fire pit and a club room. Allanté is creating a rooftop Sky Lounge for residents with views of the mountains and downtown. “This is a really desirable spot,” Everett adds, noting that Weger has already gotten calls from older homeowners in mountain markets, looking for a ‘pied-a-terre’ close to all of those restaurants and taverns, as well as to the growing dining scene on Tennyson Street in nearby Berkeley. Weger is forming an interest list now – on her phone today and tomorrow at 720-660-2160, or email info@highlandplacedenver.com. Highland Place also has a choice remaining commercial/restaurant pad available for lease, via Legend Retail Group at 720-529-2999. Potential renters can see the project nearing completion at Julian Street and W. 38th; and can find more information at HighlandPlaceDenver.com. WHERE: Highland Place, 68 Class-A apartments by Allanté Properties, studio through 2-bedroom, underground parking, over restaurant/retail space and 6 blocks from Highlands Square at W. 32nd and Lowell. Construction site 3380 W. 38th Ave. Denver; from Highlands Square head east 1 blk to Julian St., north 7 blocks to W. 38th@marksamuelson
