DENVER — EMBREY has acquired 219,562 square feet of land in the Washington Virginia Vale neighborhood of Denver for the development of a Class A multifamily community.
Located at 5231 Leetsdale Drive, the property is currently home to a small retail strip building and a hardwood flooring company. The buildings will be demolished to make way for the new development, which is set to offer 283 units upon completion.
Travis Hodge and Tony Bobay of the Capstone Colorado land team represented the buyer in the acquisition of the development site. A timeline and further details on the project were not announced.
EMBREY is also currently developing Belaire, a 354-unit multifamily community in Denver’s 40 West Arts District, which is scheduled for completion in 2025. The project is set to offer shared amenities including a pool, spa, outdoor cooking space, bike workshop and racks, ski gear lockers, lounge areas, a fitness and yoga center and dog park.
“EMBREY has been part of the Denver community for 23 years, and over the past decade, the population has continued to soar,” says Executive Vice President Jimmy McCloskey. “We expect strong rental demand as the area continues to grow.”
San Antonio-based EMBREY owns, develops, acquires and manages multifamily and commercial assets across the U.S. The company currently has 18 projects under development, four of which are located in the Denver metropolitan area.
—Katie Sloan