Forestar Group Announces New Luxury Multifamily Development in Denver
- Jul 05, 2012
Forestar Group Inc. has partnered up with Guggenheim Real Estate LLC to develop a luxury multifamily community in Denver. Located in the southeast business corridor of the metro area within the Denver Tech Center market, the project—called 360 deg—will feature 304 units.
Designed by Denver-based JG Johnson Architects, 360 deg will be comprised of two four-story buildings around a six-story parking structure overlooking the Rocky Mountains. The development will feature studio, one and two-bedroom floor plans, while common-area amenities will include a resort-style pool, a rooftop deck, outdoor living areas, a clubhouse, a state-of-the-art fitness center and an executive business center. The community has been designed to obtain Energy Star certification.
Jim DeCosmo, president and chief executive officer of Forestar, said 360 deg will be the third new development for the company this year after breaking ground on Eleven and opening Promesa—both in Austin, Tex.
The community will be located in the fifth-largest business park in Metro Denver—the Greenwood Plaza Business Park. Residents will have easy access to the downtown area as the community is just a few blocks away from the Arapahoe Light Rail station. Tom Etheredge, executive vice president of multifamily operations at Forestar, said: “The 360 deg site is exceptionally located within an overall Denver market that currently exhibits attractive supply and demand fundamentals.”
Forestar Group Inc. also operates in two other business segments apart from the real estate industry: mineral resources and fiber resources. On the real estate front, the company owns over 140,000 acres of property across twelve markets in the U.S.
Rendering Courtesy of: www.forestargroup.com
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