High Street Residential and CBRE Investment Management Fund Close on New Multifamily Development in Olde Town Arvada in Metro Denver
October 13, 2021
The Denver office of High Street Residential (HSR), Trammell Crow Company’s residential subsidiary, and JV Partner CBRE Investment Management, on behalf of the CBRE U.S. Development Partners 5 fund, have finalized plans to build The Residences at Olde Town Station. This Class A project features four levels with 252 residential units over two levels of structured parking. Construction will commence in early October with final completion slated for late 2023.
The Residences at Olde Town Station features a mix of apartments and walk-up units available for rent, ranging in size from studio- to two-bedrooms. Select units offer an added den. “We appreciate this unique TOD opportunity and are excited to begin work on this dynamic new development in Olde Town Arvada,” said Bill Mosher, Senior Managing Director with HSR’s Denver office. “Our goal for The Residences is to create a development that fits into the historic Olde Town community and takes advantage of its unique location within walking distance to Olde Town, the Transit Hub, and minutes to I-70 via Wadsworth Bypass. We and our partners, including the Arvada Urban Renewal Authority and City of Arvada are excited to be part of the Olde Town Arvada community.”
The Residences project is uniquely terraced to accommodate a 35-foot hill bordering the site’s north and west sides. The transit-oriented development (TOD) is adjacent to the Olde Town Transit Hub on RTD’s Gold Line to the northwest and is accessed via 56th Avenue from Vance Street and Wadsworth Bypass. This project will feature many on-site amenities, including a well-equipped fitness center, a clubroom, and a lounge complete with community Wi-Fi. Additional amenities include abundant outdoor open space, including a rooftop deck, two courtyards with lounge seating and fire pits, a resort-style pool, and a dog park. The project will be enhanced by a mixed-use project south of 56th Avenue across from the Residences, which will include community-focused retail, restaurants, and a hotel. High Street’s Senior Vice President Erik Hagevik added, “The Residences at Olde Town Station provides high-end amenities that are more expansive and park-like than traditional multifamily developments in the area. A well-appointed pool deck, several outdoor amenities, and an interior club room all contribute to a great environment for community residents.”
The Eisen Group is the architect that designed the project, and PCL Construction is the general contractor. Citizens Bank provided financing for the project.
Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of September 30, 2023, TCC had $15.4 billion of projects in process and $14.5 billion in its pipeline. It employs 650 professionals in 28 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.