Plans are underway for the construction of a new apartment complex in the always-popular River North Art District of Denver.
The project, as proposed by the multifamily development company Carmel Partners of San Francisco, will go up on a 2.4-acre site encompassing two city blocks.
Carmel recently purchased the property from several parties for a total of $27.5 million.
As proposed, a portion of the complex will rise to 12 stories in height with other parts of the complex topping out at 7 stories.
The new development is also expected to house commercial space.
The northeast edge of the site is at the corner of 34th Street and Walnut Street, while the southwest edge is bordered by the corner of 33rd Street and Blake Street.
The area is currently populated with a number of older warehouses, all of which will be demolished to make way for the apartment complex.
While plans for the project are in the early stages and have not yet been submitted to the City of Denver, it is thought that if all goes well actual construction could begin sometime in the spring of 2022.
One of the oldest sections of Denver, the River North Art District, otherwise known as RiNo, is not only the home to any number of art galleries and brew pubs, but has seen a good deal of new apartment construction in the last decade.
One-bedroom units in new structures or repurposed warehouse buildings in the district typically go for around $2,000 a month.
By Garry Boulard
