Denver, Colo. – January 22, 2018 – East West Partners, a Denver-based developer devoted to building, selling and managing high-quality real estate, and its partner Ascentris, a Denver-based real estate private equity firm, announced today that The Coloradan has topped out and is on schedule for completion in Q4 2018. The Coloradan is a 334-unit condominium property located directly behind Denver’s Union Station and across the street from Denver’s recently-opened flagship Whole Foods. This construction milestone coincides with a sales milestone for the building as well, with The Coloradan having recently sold its 215th residence and reaching $150 million in sales volume.
“We’re fortunate to start 2018 with two significant milestones for The Coloradan,” said Brad Arnold, Vice President of Sales and Marketing for The Coloradan. “With the topping out, we are one step closer to welcoming residents into their new homes later this year and with incredible sales activity over the holidays, we’re now 70 percent sold out.”
East West Partners, Ascentris and the rest of the project team, including general contractor GE Johnson Construction Company, marked the topping out on January 19. The final steel beam was signed by the project team and placed on the top floor.
“The urban setting of The Coloradan is not only a great location to live in, but [it] is also an exciting place to perform construction,” said Dan Starr, President of GE Johnson Construction Company. “This milestone is a testament to the coordination efforts of our project team and the collaboration we have with all of the project partners.”
With the recent sales milestone, The Coloradan now has 84 one-, two- and three-bedroom residences as well as two penthouses still remaining for sale. Residences are priced from $575,000 to $1.2 million and the two Penthouses are $3.3 million and $3.35 million. In addition, The Coloradan is one of the first buildings to be constructed under the revised Inclusionary Housing Ordinance (IHO) enacted by Denver City Council in August 2014, with 10 percent of the residences dedicated to providing affordable housing. The Coloradan’s 33 affordable homes will be released later this spring.
The first for-sale condominiums in the Union Station neighborhood, The Coloradan will boast outstanding views of downtown, Coors Field and the mountains. It will feature thoughtfully-curated ground floor retail and restaurants as well. Resident amenities include a rooftop pool deck and club room, a fitness room, an owner’s library and garden terrace. In addition, The Coloradan will be LEED Gold and Certified Healthy, a Denver-based certification program that recognizes exceptional projects that integrate stringent wellness standards and encourage healthy lifestyles. For more information, visit www.TheColoradan.com.
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About East West Partners
East West Partners is devoted to building, selling, managing and supporting high-quality real estate. Since 1986, the firm has developed and sold over $3 billion of residential and commercial real estate. Their most recognizable local project is Denver’s Riverfront Park, a 25-acre development that transformed the Central Platte Valley into Denver’s hottest new community. East West Partners is also responsible for the renaissance of downtown Denver’s city center, taking the lead on the development of the Union Station Neighborhood. For more information on East West Partners, visit www.ewpartners.com.
About Ascentris
Ascentris is a real estate private equity firm based in Denver, Colorado. Ascentris invests in and manages institutional real estate, both directly and through joint venture partners, on behalf of institutional clients. Since 2003, the Ascentris management team has focused exclusively on value-add and opportunistic investments across all the major property types and geographic regions within the United States.
Built on a foundation of transparency and accountability, Ascentris maintains an unwavering commitment to put its clients’ needs first. Ascentris is a privately held and employee owned SEC registered investment adviser. Additional information is available at www.ascentris.com.
About GE Johnson
| For more than half a century, GE Johnson Construction Company has been dedicated to enriching our communities by leading and building projects with the best people and ideas. The company embraces the power of ingenuity and trusting relationships, and values integrity, safety, collaboration, and excellence. GE Johnson is headquartered in Colorado Springs, Colorado with offices in: Denver, Colorado; Vail, Colorado; Jackson, Wyoming; Casper, Wyoming; and Oklahoma City, Oklahoma. |
