Dallas-based Mill Creek Residential is planning to build two five-story apartment buildings at 1911 S. Josephine St. in Denver. (Provided by ARA Newmark)
A Dallas-based multi-family developer has acquired a 1-acre site near the University of Denver campus and plans to build 275 luxury apartments, ARA Newmark announced Wednesday.
purchased the property at 1911 S. Josephine St. for an undisclosed price. The site was formerly a surface parking lot with five single-family homes.
Plans call for two five-story apartment buildings with a total of 275 units. Other details of the development, called Modera Observatory Park, were not immediately available. Mill Creek plans to break ground in August, with completion anticipated in the first quarter of 2017, according to a news release.
“We were attracted to the Observatory Park neighborhood for many reasons, including the easy commute to both of Denver’s employment centers and convenient access to some of Denver’s best amenities and transit,” Mill Creek Residential managing director Brian Wynne said in a statement. “We plan to develop a high-quality community with top-level finishes, a luxury pool deck and more. We are very excited to become part of this neighborhood.”
Mill Creek has developed two other luxury apartment communities in Denver, both near Coors Field — at 2100 Delgany; and , 2300 Walnut St., which was sold in 2014, according to the company website. Mill Creek also owns the apartment complex at 650 S. Dahlia Circle near the Cherry Creek Athletic Club.
ARA Newmark advised the seller in marketing the development site.
