Plans have been announced for the construction of a new 12-story apartment building in one of the oldest and most popular neighborhoods adjacent to downtown Denver.
The Presence Design Group, based in Denver, has submitted plans to the city for a 162-residential unit structure with floor-to-ceiling windows that is expected to cost around $95 million to complete.
The project at 2420 N. Alcott Street will feature wrap-around balconies overlooking nearby Interstate 25 in a section of the neighborhood dominated by high-rise apartment structures.
The demolition of a four-story office building built in 1972 will precede construction of the new apartment complex.
The project will belong to McLaughlin Engineers, a long-time civil and environmental engineering firm which owns the existing 1972 structure.
According to reports, work on the project is not expected to launch until the fall of 2025, with an anticipated completion date of September 2027.
Rents in the Jefferson Park neighborhood have been on a steady upward trajectory for the last decade. According to the site RentCafe, the average monthly rent in the section now stands at more than $2,200. That’s up from around $1,900 a year ago.
By Garry Boulard
