AMLI Buys Multifamily Development Site on South Broadway in Denver
DENVER — AMLI Residential, a multifamily developer and owner based in Chicago, has purchased 2.7 acres of land on South Broadway in Denver for a new 300-unit apartment community.
The property is situated within Broadway Park, a mixed-use, infill redevelopment totaling 75 acres and entitled for up to 10 million square feet of development. Denver-based D4 Urban is the master developer of Broadway Park and sold the land to AMLI.
Chris Cowan and Mackenzie Walker of Newmark Knight Frank (NKF) Multifamily represented D4 Urban in the land sale. The sales price was not disclosed.
Community amenities at the project, named AMLI Broadway Park, will include a rooftop deck; two-story fitness and clubhouse area; pool; barbecue and lounge area; dog run; and several courtyards. The property is designed to achieve LEED Gold certification, which is a hallmark of AMLI communities nationwide.
The new community is the second vertical development within the Northwest District at Broadway Park. The site is adjacent to Price Development Group’s 345-unit multifamily property currently under construction, as well as a public plaza developed by D4 Urban on behalf of the Broadway Park North Metropolitan District, according to Dan Cohen, development partner at D4 Urban. The property will also be about one block away from the Alameda Light Rail Station.
Denver’s South Broadway neighborhood is home to the city’s Antique Row and the Mayan Theatre, as well as food and beverage options such as TRVE Brewing Co., Corvus Coffee Roasters, Punch Bowl Social, Adrift, Historians Ale House, Mutiny Information Cafe, Beatrice & Woodsley, Sputnik, Irish Rover Pub and Dougherty’s Restaurant & Pub.
AMLI Residential focuses on the development, construction and management of luxury apartment communities. The firm currently owns and manages more than 21,000 apartment homes in 16 cities, including 13 properties in Denver totaling more than 4,000 units once AMLI Broadway Park and AMLI RiNO come on line.
— Amy Works and John Nelson