IN THE NEWS | Boutique Condo Building Coming to LoHi
January 22, 2018
Ivy Residences was featured in the news this week! View the original Mile High CRE article here. Full article below.
DENVER – A new boutique condo building is coming to the vibrant LoHi neighborhood of Denver. Located at 1809 W. 33rd Avenue, Ivy — developed by Elevation Capital Partners ("ECP") — will be surrounded by a myriad of food, lifestyle and entertainment amenities. Pricing is projected to cover a wide range — from the low $300,000s to $750,000s — with an opportunity to build out larger penthouses to suit. All units will be a single story, which is harder to find among new product in the Highlands.
For the better part of the last decade, condo construction has all but come to a halt in Denver. More and more "luxury" apartments are being built while ownership opportunities — especially for newly built urban condos—are increasingly harder to find. This new project will bring 26 thoughtfully designed units to an area with significant pent-up demand.
"When this opportunity presented itself, we knew we wanted to create something unique," said Bryan Fitzgerald, principal of ECP. "But we also wanted to create something that would enhance the neighborhood, be built to last and something we could be proud of for decades to come. We purposefully partnered with Craine Architecture and Hyder Construction to fulfill that mission. Craine's timeless aesthetic is evident in the design; and on this scale no one in town has more for-sale condo experience than Hyder. We've got a really great team assembled."
Fitzgerald added, "Although there are some really great larger scale condo projects coming out of the ground right now, we plan to offer similar styling, architectural interest and quality of construction in a more intimate, boutique-style building. Consequently, our residences will be a price point below those projects, both in initial purchase price and annual ownership costs."
The five-story building will have parking on grade level and four levels of residential units above. Ivy Residences will consist of a mix of studio, one- and two-bedroom units as well as four penthouse condos with views in all directions. Ceiling heights will be between nine and ten feet with an extensive glass line to take advantage of the urban living. All units will be open floorplan living, have large outdoor spaces, parking and contemporary interior styling.
Amanda Fairbairn with Studio Zinyo has been hired for interiors, which will combine sleek contemporary lines with warm, organic finishes to create the best in urban living. High-quality systems and materials will be the benchmark, including a brick building exterior, concrete and steel construction and extensive sound attenuation.
Unique to this project and to cater to urban owners, the building will feature "Boutique Extras," including Luxer One package locker delivery system, space-saving tankless water heaters, and available car stackers, custom closets and "Alexa" home automation.
Taylor Lawton with PorchLight Real Estate Group — a partner in the project — added, "Denver is a city in transition and with this building we plan to be early adopters to modalities that cater to a more urban lifestyle where space is at a premium. We want our owners to feel like they have everything they need, but also nothing they don't need. After a long stretch of apartment development in Denver, there's a void in the market for this type of product—an ownership alternative to paying high lease rates in rental apartment living."
While the building itself will be exceptional, it's the neighborhood that provides the real amenity to owners. On the block are coffee shops, numerous restaurants, a gym and shared office space, all within walking distance to Union Station, Coors Field, Pepsi Center and Mile High Stadium.
The project is set to break ground in May of 2018, with units being delivered in Q2 of 2019. Presales are set to begin March 2018.
Images courtesy of MBR Studios.