Starting just over a decade ago, the River North Art District of Denver began a slow transformation from being a neighborhood of mostly warehouses and manufacturing facilities, to one that is dominated by coffee shops, art galleries, and bars.
In the process, new residents have been moving into what is popularly called RiNo.
According to local statistics, just under 2,700 people, with an average age of 34 years, now live in the neighborhood. But because only 33 percent of the residential units there are home-owned, developers see a rental market of great potential.
Now the Denver-based Tributary Real Estate has announced plans to build a mixed-use project that will encompass 178,000 square feet and six blocks in RiNo.
The project will go up near the 38th and Blake Street light rail station and, according to early plans, will include 350 apartments and 300,000 square feet of real estate.
Tributary, an integrated commercial real estate firm, is in the process of acquiring the land needed for the new project, and will most likely announce a construction schedule once that process is completed.
By Garry Boulard
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