CHERRY HILLS VILLAGE, COLO. — MIG Real Estate has acquired a one-acre development site in Denver for construction of The Clarkson, a 114-unit multifamily community located in Cherry Hills Village, a suburb of Denver. A private seller sold the site for $3.4 million.
Slated to break ground in 2021, The Clarkson will feature 23 studios, eight junior one-bedroom, 56 one-bedroom and 27 two-bedroom layouts. The property’s 2,600 square feet of amenities will include a roof deck, courtyard with swimming pool, club room and gym. Additionally, the community will offer 160 parking spaces.
The project team includes MIG Real Estate as developer, TCA Architects as design architect and Kimley-Horn Associates as civil engineering and landscape architect. Occupancy is scheduled for 2023.
The transaction is the first acquisition for MIG’s Qualified Opportunity Zone Business Fund, which recently raised more than $100 million in equity to invest in Opportunity Zone development sites throughout the Western United States.