Picerne Constructing 248-Unit Apartment Project for Hungry Denver Market
- Mar 28, 2013
The Picerne Group is working hard to answer the increasingly loud cry for apartments in Denver with the construction of a luxury apartment property in the thriving Denver Tech Center area. Work is currently underway on the project, which will yield 248 residences.
The as-yet-unnamed development is sprouting up on a nearly nine-acre parcel on the Denver Tech Center Parkway. It has location on its side.
“Tech Center is thriving [because of] its proximity to employment,” Dr. Ronald L. Throupe, a professor with the Franklin L. Burns School of Real Estate and Construction Management at the University of Denver, told Commercial Property Executive. “The main interstate runs right through Tech Center and the rapid transit line is parallel to the highway, so it’s very easy access for commuters to go back and forth. That kind of connectivity does spur apartment growth.”
KTGY Group Inc. is behind the design of Picerne’s project, which is being developed in partnership with Grand Peaks Properties. “The community will appeal to a variety of individuals, from the young employees who work in the Denver Tech Center to the young families who want to live within the Cherry Creek School District and to those who are looking to downsize and move out of their single family homes,” Christopher Davis, managing director with Picerne, said in a prepared statement.
Colorado Structures Inc. is onboard the endeavor as general contractor and is on schedule to complete construction in time for the apartment community’s debut in spring 2014.