Forest City announced today it will break ground this summer on two new multi-family rental complexes at Stapleton.
The Eastbridge Apartments will be comprised of 118 rental homes on E. 29th Drive at Havana. The new apartments will be within a block of a neighborhood pool and park that opened at Stapleton in 2008 and just minutes west of the major employment center of the Fitzsimons Life Science District and the Anschutz Medical Campus. Units in the two and three story buildings that comprise the complex will include 1 and 2 bedroom units. Rents for the Eastbridge Apartments are expected to range from $1,050 to $1,425.
The second new complex at Stapleton will be the Novella Apartments located north of Martin Luther King Boulevard two blocks north of the E.29th Avenue Town Center along Roslyn Way. The apartments will be within a short walk of the Quebec Square Regional Retail Center, the planned FasTracks multimodal center on Smith Road to the north and Central Park to the east. A new Denver Public Library is scheduled to open in the Town Center in 2012 and the new Swigert-McAuliffe International School (ECE-8) will be opened by Denver Public Schools near the Novella Apartments in August of this year. The 85 units of the first phase of the 220 unit development are expected to include 1 and 2 bedroom apartments with leases expected to range from $1,050 to $1,350.
“The multifamily market has rebounded swiftly,” said John Lehigh, president of Forest City Stapleton, Inc. “The flexible zoning at Stapleton allows Forest City to take advantage of market opportunities and bring product to market quickly in ideal locations. “We have every reason to expect that these new rental developments will receive an enthusiastic welcome from the market and further enhance Stapleton’s image as a community that offers a diversity of housing choices,” Lehigh added....